Target plans to invest as much as $5 billion this year expanding services for customers, including a drive up service for returns, renovations at 175 stores and improvements in online shopping.
But how Americans spend is changing, too. More people are spending money on travel or going out for dinner than they were during the pandemic, which can mean they are spending less at stores.
“We’re planning our business cautiously in the near term to ensure we remain agile and responsive to the current operating environment,” Cornell said in a statement. But even as Target projects lower sales, the retailer is pushing ahead to accelerate its e-commerce strategy. It announced last week that it will spend $100 million to develop a larger network of package sorting centers that cut the cost of delivering online orders while increasing the speed of delivery.Target said that its drive up service for returns will be rolled out to all stores by the end of this summer.
Fourth-quarter profits fell to $876 million, or $1.89 per share, for the quarter that ended Jan. 23. That compares with $1.54 billion, or $3.21 per share, in the year-ago period.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Target issues tepid outlook after 43% profit drop as inflation squeezes shoppersWith sales up slightly and profits down sharply, the discount retailer faces ongoing challenges of cautious consumer spending and its own higher costs.
Leer más »
Target's tepid outlook after 3rd quarterly profit dipTarget plans to invest as much as $5 billion this year expanding services for customers, including a drive up service for returns, renovations at 175 stores and improvements in online shopping.
Leer más »
Global Coalition Urges OECD to End 'Reprehensible' Oil and Gas Export FinancingSuch public funding, according to more than 175 civil society groups, is 'helping prop up fossil fuel projects and infrastructure which would otherwise be too risky for the private sector to finance alone.'
Leer más »
Dave & Buster’s preparing to open its fourth location in Phoenix areaRestaurant, bar and arcade concept Dave & Buster's is opening its fourth location in the Phoenix area and will hire 175 employees to help facilitate demand.
Leer más »
Win a pair of tickets to the Chuck Prophet & the Mission Express show at the Beachland BallroomGiveaway: Win a pair of tickets to the Chuck Prophet & the Mission Express show at the BeachlandCLE!
Leer más »
First-week debut sales are mostly 4th-gen now, indicating a generational shift | allkpopIs the 4th-generation taking over first-week album sales now?On online forums, netizens are looking at the data from the end of last year…
Leer más »