Wall Street laid into Target on Wednesday after the company failed to deliver on quarterly profits.
apparel
For the full year, Target is now anticipating about a billion dollars in incremental freight costs. In addition, increased promotional activity and storage fees for added inventory cut into profits. Cornell also remains bullish on Target’s future. “Guests continue to depend on Target for our broad and affordable product assortment,” he said. “Our first-quarter results mark Target’s 20th consecutive quarter of sales growth.
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