Target Sales Get Lift From Remodels but Spending Squeezes Margins
Target Corp. said sales are rising as the big-box chain benefits from a strong economy and recent investments in stores and online, but those investments continue to weigh on profits.
The company on Wednesday said sales in existing stores rose 3% in the quarter ended May 5, boosted by more shoppers visiting Target’s stores and website. Chief Executive Brian Cornell said customer traffic to stores was the strongest in over a decade of quarterly figures…
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