After a half year of negative headlines, culture war distractions and a massive stock slump, Target finally had something to cheer.
Target’s profit beat Wall Street’s expectations last quarter, and the stock surged 9% in premarket trading Wednesday.
Although investors cheered the news, Target is hardly in great shape. Sales tumbled for the second quarter in a row. And the company forecast a weak holiday, as customers continue to forgo discretionary purchases.
This is a developing story. It will be updated.
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