Target Corp.’s sales rose sharply during the holidays, the company said this morning, outpacing rivals but leading investors to wonder whether price cuts eroded its profits.
Target’s comparable sales, those at stores open at least a year, soared 5.7 percent in November and December, fueling what’s likely to be the retailer’s biggest improvement in full-year sales since 2005. More people hit Target’s stores and shopped online, executives said. The average amount shoppers spent increased only slightly, however.. . . more