The retail giant is enjoying a margin recovery, according to analysts.
Target Corp., which struggled with inventory issues in 2022, is now reaping the benefits of improving gross margins, say analysts.
“After a difficult 2022, when Target was one of the more highly visible examples of the inventory glut that plagued retailers last year, the benefits of being cleaner were notable in the 1Q23 report,” wrote D.A. Davidson analyst Michael Baker, in a note released Wednesday. “This includes improving gross margins, off of a low base, better free cash flow trends, and the open-to-buy to lean into some potential areas of upside in the back half.” D.A.
Related: Target stock swings to a gain as an earnings beat helped offset a downbeat near-term outlook The retail giant’s stock ended Wednesday’s session up 2.6%, outpacing the S&P 500 index’s SPX gain of 1.2%. Target shares are up 0.2% in premarket trades Thursday.Discretionary spending was another key theme of Target’s first-quarter results, with the retailer noting continued softness in its discretionary categories. However, the retailer is seeing strength in its “frequency” businesses of beauty, food & beverage and household essentials.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
As The Potomac Gets Cleaner, Sprawl And Climate Change Threaten ProgressClimate change is causing more intense storms, inundating the Potomac River river with pollution. This, plus continued loss of forests, is threatening progress on the river's cleanup.
Consulte Mais informação »
I got $500 for returning used clothes to Target — and you could tooIn the clip, the mom-of-three reveals she returned a large bag of Cat & Jack clothing to her local Target, showing the receipt that came to a total of $537.80.
Consulte Mais informação »
TikTok parents are spreading the word about Target's generous return policyParents on TikTok are spreading the word about Target's return policy. Target allows customers who are not satisfied with any Target-owned brand items to make an exchange or get a refund within one year of purchase and with a receipt.
Consulte Mais informação »
Moe sets 2050, not 2035, as target for net-zero electrical grid in Sask.Premier Scott Moe says proposals set out by the federal government are not realistic, opting for 2050 in lieu of 2035 for a net-zero grid. skpoli
Consulte Mais informação »