Target shares pop more than 10% as retailer boosts profits, despite lackluster sales forecast
Publishing timestamp: 2024-03-05 10:47:55
Summary
Target reported better-than-expected holiday-quarter results but expects another year of weak sales. The retailer will launch a new membership program and focus on growing traffic. Despite a decline in comparable sales, profits grew as inventory management improved. Target's total revenue grew nearly 2% in the fiscal fourth quarter, with a rise in digital sales. The company plans to emphasize same-day delivery and share more of its strategy at an investor meeting in New York City.
Sentiment: MIXED
Keywords: business, business news, breaking news: business, target corp, breaking news: earnings, retail industry, cvs health corp, walmart inc, earnings,
Source: https://www.cnbc.com/2024/03/05/target-tgt-earnings-q4-2023.html