Target posts modest 1Q sales gain, warns 2Q will be softer
May 17, 2023
Target reported a 0.7 percent increase in same-store sales as its customers concentrated on lower-margin non-discretionary purchases. The chain, which posted a 5.8 percent decline in profits in the first quarter, warned that sales would likely soften in the second quarter as consumers look to stretch their dollars in an inflationary environment.
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