Target’s Turnaround Finally Has Numbers Wall Street Can’t Ignore
Target raised its annual sales forecast after first-quarter net sales rose 6.7% to $25.44 billion, ending a three-year revenue slide. Comparable sales increased 5.6%, with digital up 8.9%. Profit fell to $781 million from $1.04 billion a year earlier. New CEO Michael Fiddelke cited progress but maintained a cautious outlook amid ongoing investment and price cuts.