Target Posts Weaker Margins Despite Record Q1 Sales

Bloomberg TV

Target Corp. posted record sales in the first quarter, but said it’s very hard to get a read on the American consumer as the nation slowly reopens from the coronavirus lockdown. Gross margins narrowed to 25.1%, missing the average analyst estimate and well below the 29.6% turned in the same quarter a year ago. Joe Feldman, senior managing director at Telsey Advisory Group, comments on the U.S. retail landscape on “Bloomberg Surveillance.”

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