Earnings Results
The retailer trimmed its full-year outlook ahead of the holidays. ‘At the most important time of the retailer’s year, sales are decelerating,’ one analyst noted.
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Shoppers at a Target store in Chicago. The retail giant has worried Wall Street lately as it struggles for direction.
Photo: AFP via Getty Images
As Target Corp.’s quarterly results and holiday outlook on Wednesday offered up more disappointment for investors, the big-box retailer tried to focus Wall Street’s attention on the future — one with more artificial intelligence, larger stores and aesthetics that are “unmistakably Target.”
But to get at least partly there, the chain plans to spend a lot more next year — around $5 billion, or roughly $1 billion more than this year — as it looks to open more big stores in the U.S. and tries to regain cultural and stylistic relevance.
