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Target Sales Decline to Start the Year, Stock Down 8%

Posted on AllSides May 22nd, 2024
From The Right

Target Wednesday posted a decline in quarterly revenue as higher prices cut into shopper spending. The Minneapolis retailer also delivered profit results that were below analyst expectations and issued a muted profit outlook, but it said it expects that it will get back to quarterly sales growth this quarter. Shares slumped almost 8% in premarket trading on Wednesday. The company is looking for ways to reverse softening sales. On Monday, said it would cut prices on thousands of consumer basics over the next several months, from diapers to milk, in...

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