Target navigates tricky holiday season, posts strong outlook
ABC News
Target pushed through headwinds — from inflation to congested ports — to deliver solid results for the three-month period that included the crucial holiday shopping season
NEW YORK -- Target pushed through headwinds — from inflation to congested ports — to deliver solid results for the three-month period that included the crucial holiday shopping season.
Fourth-quarter profit rose nearly 12%, sales increased 9.4% and the Minneapolis retailer on Tuesday released an upbeat revenue outlook for 2022.
Shares jumped more than 5% before the opening bell.
Retailers are facing rising costs for everything from labor to shipping as supply chain backups hit companies worldwide. Yet Target, because of its size, was able to charter vessels and fill its shelves ahead of the holiday shipping crunch.
