As Target shutters some stores, retailer looks to prove it can grow and avoid new setbacks
Publishing timestamp: 2023-11-13 11:41:13
Summary
Target has experienced store closures and setbacks due to theft, slower sales, and backlash over its Pride collection. The company is scheduled to report earnings and is looking for steady growth. While some stores have closed, Target sees opportunities for growth in New York and other cities. The company is dealing with softer sales, inventory challenges, and the impact of inflation. Target's CEO expects cautious consumer spending to continue. The company is focusing on affordability for the holiday season but may face challenges due to its merchandise skewing towards discretionary items. Target is opening new stores but also facing questions about its presence in city centers.
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Keywords: business, macy's inc, walmart inc, target corp, business news, s&p 500 index, retail industry, nordstrom inc, breaking news: business, abercrombie & fitch co,
Source: https://www.cnbc.com/2023/11/13/target-closes-stores-ahead-of-third-quarter-earnings-report.html