HomeAbout

TL;DR CNBC


Target shares pop more than 10% as retailer boosts profits, despite lackluster sales forecast - TL;DR CNBC

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

Tickers: CVSTGTWMT

Keywords: businessbusiness newsbreaking news: businesstarget corpbreaking news: earningsretail industrycvs health corpwalmart incearnings

Source: https://www.cnbc.com/2024/03/05/target-tgt-earnings-q4-2023.html


Developed by Leo Phan