Connect with us

Headlines

Target’s Profits Fall 43%

Retailer announces plans to increase sales by $10 billion over next two years

Published

on

Target (Minneapolis) announced its most recent quarterly earnings, which included a decline in profits of 43 percent. The company also adjusted its expectations for how business will fare throughout 2017, which were “far below what industry analysts had been expecting,” reports Chicago Tribune.

For the three-month quarter that ended Jan. 28, the company’s sales fell from $21.63 billion last year to $20.69 billion this year. It also saw same-store sales fall by 1.5 percent.

Accordingly, the company shared a variety of ways it plans to bolster business and recover from the disappointing performance by increasing sales by $10 billion over the next two years. Those plans include cutting prices, updating older stores and opening smaller stores in urban settings and near college campuses. It also plans to launch a dozen new brands.

 

 

Advertisement

Advertisement

SPONSORED HEADLINE

7 design trends to drive customer behavior in 2024

7 design trends to drive customer behavior in 2024

In-store marketing and design trends to watch in 2024 (+how to execute them!). Learn More.

Promoted Headlines

Advertisement
Advertisement

Subscribe

Advertisement

Facebook

Most Popular