Target (TGT) sinks 13% following EPS, guidance
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Target Corporation Reports Third Quarter Earnings
November 16, 2022 6:30 AM ESTMINNEAPOLIS, Nov. 16, 2022 /PRNewswire/ --
Comparable sales increased 2.7 percent, on top of 12.7 percent growth last year.Comparable sales growth was driven by 1.4 percent traffic growth and a 1.3 percent increase in average ticket.Category performance was led by growth in frequency businesses including Beauty, Food and Beverage and Household Essentials, which offset continued softness in discretionary categories.The Company saw unit share gains across all five core merchandising categories.Third quarter operating margin rate of 3.9... More