Target Reports Drop In Second Quarter Earnings
MINNEAPOLIS (WCCO) –Target reports its second quarter sales dropped more than seven-percent from a year ago.
The second half of the year is usually great for big retailers like Target. Back-to-school shopping tends to boost sales in late summer, and during the fall consumers typically splurge on gifts for the holidays.
But Target CEO Brian Cornell, who took over the company in 2014, warned this is now a "difficult retail environment."
As a result, Target has slashed its earnings outlook for the third quarter.
