Target Reports Disappointing Holiday Sales
TARGET ANNOUNCES DISAPPOINTING HOLIDAY SALES FIGURES: IT REPORTED A SALES GAIN OF JUST 1.4 PERCENT IN NOV. AND DEC. AT STORES OPEN AT LEAST A YEAR. IT'S BELOW THE COMPANY'S GUIDANCE FOR THE PERIOD
Houston, TX (KTRK) – Target’s holiday shopping season missed the mark this year.
The nation’s third largest general retailer reported a sales gain of just 1.4% in November and December of 2019 at stores open at least a year.
It’s below the company’s guidance for the period and well short of the 5.7% growth it had a year earlier during the same period.
The Minneapolis-based company pointed to weak sales of electronics and toys.
Target also announced a shake up of its executive team; in the wake of the disappointing holiday sales.