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Target to invest another $2 billion in its business this year to reverse its sales malaise [Globe and Mail, The (Toronto, Canada)]
Last walmart inc. earnings: 2/18 06:00 am
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its workers as it tries to turn around a persistent sales malaise and reclaim its authority on style. The investment, announced Tuesday at its annual investor meeting at its headquarters in Minneapolis, comes as the discounter reported another quarter of declining sales and profits amid its struggles to regain its footing with customers who are going elsewhere for fashion, home and other needs. Tuesday's report offered some hope for the business. The company delivered a solid annual profit outlook that was better than Wall Street had been projecting. It also said it believes net sales will grow every quarter this year. Target said comparable-store sales rose to start the current quarter. “This is a new chapter, and it's all about growth,” said CEO Michael Fiddelke, a 20-year company veteran who succeeded longtime CEO Brian Cornell last month. “We'll do so by playing our own game and making big changes to delight our guests.” Target had already announced in November it planne
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