Pursuits
Target Gains After Sales Signal Comeback Bid Is Taking Hold
- First-quarter earnings trounce Wall Street’s lowered estimates
- Exclusive designs from Victoria Beckham helped lift sales
Target Corp. shopping carts sit inside a company store in Chicago.
Photographer: Christopher Dilts/BloombergThis article is for subscribers only.
Target Corp.’s turnaround plan gained some much-needed momentum as its latest sales beat estimates, bucking the trend of gloomy results from bellwether U.S. retailers.
The stock rose the most in six months after Target’s first-quarter sales decline was less severe than analysts projected. Earnings also sailed past Wall Street’s most optimistic estimates, helped by a sales uptick in March, and the company gave a brighter outlook for the full year.