Target’s (TGT) Q3 2024 earnings missed the mark as discretionary sales and supply chain troubles weighed on results.
came up short in the third quarter, with continued weakness in discretionary goods and costs to prepare for what was ultimately a short dock strike weighing on the bottom line.
“We’ve seen pressure and discretionary categories all year long in the entire industry, whether it’s apparel or home or hard lines, and those continued in Q3,” Cornell said. Target’s bottom line also took a supply chain hit, as the company got a head start on bringing in inventory ahead of the East Coast port strike last month. “Our team took decisive actions to protect Q3 in stocks and ensure we had Q4 inventory for the biggest season of the year,” Cornell said.
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