Target sees margin squeeze as it spends more to meet coronavirus-led demand [Reuters]
Target Corporation (TGT)
Last target corporation earnings: 3/3 06:30 am
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Source: Reuters
Target sees margin squeeze as it spends more to meet coronavirus-led demand (Reuters) - Target Corp ( TGT.N ) said on Thursday rising costs from trying to meet the fast-changing needs of consumers during the coronavirus crisis were set to hurt its first-quarter profit and margins, even as it recorded robust online sales during March and April. The big box retailer said digital comparable sales surged more than 275% in April, with several days in the month recording more online sales than Cyber Monday, traditionally the busiest day for e-commerce companies. However, shares of the retailer fell nearly 3% after the company said it expects margins to drop by 5-percentage points in the first quarter due to temporary wage increases and higher sales of more low-margin products such as groceries. The company now plans to pay an extra $2 an hour for store and distribution center workers until May 30. Target also said it had to write down the value of its inventory for apparel and accessories
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News
- Target (NYSE:TGT) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating.MarketBeat
- Target and Dr. Squatch Introduce Kris K. from Target's Limited-Edition "Not Santa" Soap [Yahoo! Finance]Yahoo! Finance
- Target and Dr. Squatch Introduce Kris K. from Target's Limited-Edition "Not Santa" SoapPR Newswire
- Worst CEOs of the Year: Brian Cornell of Target [Yahoo! Finance]Yahoo! Finance
- Target's Black Friday giveaway is getting dragged on social media: 'That's diabolical' [Business Insider]Business Insider
TGT
Earnings
- 11/19/25 - Beat
TGT
Sec Filings
- 11/26/25 - Form 10-Q
- 11/19/25 - Form 8-K
- 11/4/25 - Form 4
- TGT's page on the SEC website