Target (TGT) earnings Q3 2023


Target shares jump after retailer posts a big earnings beat, even as sales fall again

Target on Wednesday topped Wall Street’s quarterly sales expectations and blew past earnings estimates, as purchases in high-frequency categories like food and beauty helped prop up weaker customer spending. 

Shares of the company rose more than 10% in premarket trading on the news, partially a reflection of the stock’s drop so far this year.

Yet the big-box retailer stared down the same challenges that it has faced over the past year. Shoppers aren’t buying much more than the necessities. They’re hungry for lower prices. And when they do make purchases, they’re postponing them – such as waiting until the temperature drops to buy a pair of jeans or a sweatshirt, CEO Brian Cornell said…

Source cnbc.com

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