Tag: $Target

U.S. retail sales rose 3.8% between Nov. 1 and Dec. 24, as intense promotion to drum up sales in what was expected to be a highly competitive holiday season for retailers prompted last-minute shopping among consumers.

Walmart Inc., Amazon.com and fast-growing e-commerce sites Shein and PDD Holding’s Temu saw record-breaking sales on Black Friday and Cyber Monday, according to spending data, suggesting that they may finish the holiday season on a much stronger note than Target and Best Buy which struggled.

Target shares plunged on Wednesday after one of America’s biggest retailers forecast disappointing sales for the key holiday season.

Target raised its full-year profit forecast on Wednesday and reported its first increase in quarterly comparable sales in over a year, driven by price cuts that attracted more shoppers to its stores.

Target on Wednesday posted a year-over-year sales decline and missed Wall Street’s earnings estimates, as consumers fatigued from high prices bought both fewer discretionary items and groceries. 

Target Corp. announced lower prices on about 5,000 frequently shopped items on Monday, with plans to cut the the price of thousand more items over the course of the summer.

Target forecast another year of lackluster sales as it reported better-than-expected holiday-quarter results.

Target beat fiscal third-quarter earnings and revenue expectations.

Target on Wednesday missed quarterly sales expectations and slashed its full-year forecast, as it again had trouble convincing shoppers to buy more than necessities.

Target on Wednesday topped Wall Street’s earnings expectations, even as the discounter’s sales barely grew year over year and its shoppers bought more necessities.