Target beats Wall Street’s 4Q expectations, offers cautious outlook
February 28, 2023
Target posted a 0.7 percent gain in same-store sales, above the 1.74 percent drop expected by Wall Street. Food and beverage, beauty and household essentials revenues offset weakness in discretionary categories. CEO Brian Cornell said Target would continue to invest for its long-term growth but was “planning our business cautiously in the near term to ensure we remain agile and responsive to the current operating environment.”
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