Target’s profits tumble again, casting a shadow over the holidays

Retail Dive

On Target’s earnings call with analysts, the overriding theme was the state of the consumer, as it has been on Target’s previous calls, with many households struggling to manage rising interest rates and prices on essential goods.

Analysts at Telsey Advisory Group noted the contrast between Target’s performance and that of Walmart, and said that “we are disappointed with Target’s 3Q22 results and 4Q22 outlook, although we understand it is largely impacted by the macro trends.”

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