Target Boosts Forecast in Sign It’s Weathering Retail Woes
- Shares gain in early trading after chain tops estimates
- Customer traffic increases the most in more than two years
Ivan Feinseth, chief investment officer at Tigress Financial, and Bloomberg Gadfly columnist Sarah Halzack examine second-quarter results form Target Corp. on 'Bloomberg Daybreak: Americas.' Feinseth, his family, and firm, do not own shares of Target. (Halzack's opinions are her own.) (Source: Bloomberg)
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Target Corp. delivered another sign that its comeback is taking hold as stronger online sales helped brighten the retailer’s outlook.
Second-quarter sales topped analysts’ estimates on Wednesday, and the company boosted its forecast for the rest of the year. That helped soothe investors after a rocky earnings season for retailers, sending Target shares up as much as 4.9 percent.