Target etched out a slim sales increase in the third quarter but profits slumped as inflation-weary customers pulled back on spending and costs related to a dockworker strike in October dragged on results.
Read full article: Beware: Doctors question aspirin a dayRandom knife attack at construction zone leads to police chase, officer-involved shooting: JSOMan steals over $1M in COVID-19 funds, unemployment benefits using 14 individuals' personal informationRead full article: Make household chores easier and more with these Insider DealsGive your favorite hiker an audio upgrade they can bring on the trailsFILE - A sign on a Target store in Harmarville, Pa., is shown on Sept. 16, 2024.
Target said that it now expects its earnings per share to be in the range of $1.85 to $2.45 for its fiscal fourth quarter. That’s below the $2.65 per share expected by analysts polled by FactSet. There were some bright spots. Target said the number of sales transactions increased 2.4% in the quarter. Digital comparable sales also increased 10.8%, reflecting a 20% increase in same-day delivery powered by its Target Circle loyalty program and double digit increase in its drive up-service.so the company is more reliant on discretionary items like clothing and accessories, according to the company’s latest annual report.
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