Target Q3 Profits Up, Though Sales Drop

Target announced this morning that Q3 net sales were down 4.3 percent to $25 billion, with same-store sales down 4.6 percent and digital sales down six percent.

There was some good news, though –  Q3 net income was up 36 percent to  $971 million, from $712 million during the same period a year ago.

The company cautioned that it expects its Q4 performance to be underwhelming.

KC’s View:

Increased profit numbers may give Target management some room to maneuver, but they’ve got a lot of work to do.  According to MNB readers who chimed in on this subject, that means revitalizing their stores and improving their website.  (Which certainly explains the dropping same-store and digital sales numbers.)

The post Target Q3 Profits Up, Though Sales Drop appeared first on MNB.

MorningNewsBeat Member since October 25, 2020

Loading + Follow Following

For more than 30 years, Kevin Coupe has been bringing to readers and audiences a wealth of experience, sharp storytelling skills, provocative and contextual insights, unique worldview and serious levity about the world of business and consumers. https://morningnewsbeat.com

Do you like MorningNewsBeat's articles? Follow on social!