Target Soars on Earnings Beat and 2024 Growth Plan to Revive Sales
-
Target's Q4 earnings and sales topped estimates, CEO outlines growth roadmap for 2024 including new stores, brands, and membership program
-
Shares jumped 12% on better-than-expected results and outlook, reversing stock's 4.4% decline in 2023
-
Company struggled in 2023 with sales declines in key categories like food and apparel due to high inflation
-
Target aims to ramp up value messaging fueled by new private-label brands to better compete with Walmart, dollar stores
-
Company projects return to positive comparable sales growth in 2024 after 4.4% drop last quarter