Target Corp. experienced its first comparable sales drop in more than two years in the May-to-July period, the company said this morning, and executives lowered their outlook for the rest of the year.
While executives at the Minneapolis-based retailer had hoped for sales trends to recover in the second half of the fiscal year, they said they now expect the challenging retail landscape to continue with sales to be flat to down 2 percent in the upcoming third and fourth quarters. It had previously set a target of growing those sales 1.5 percent to 2.5 percent.. . . more