Where Will Target Stock Be in 1 Year?
Investors weren't thrilled with the latest operating update out of Target (NYSE: TGT). While the retailer made progress in its turnaround plan, management warned that it might be at least another year before the business can fully recover in key areas like profitability.
The stock's returns in the meantime will depend on how well Target does at expanding market share and investing in growth initiatives -- all while staying conservative in its inventory purchase plans. Let's take a closer look at where the business seems to be headed in 2023.
Target's late-February announcement showed encouraging growth trends through late January. Yes, sales growth remained muted through the holiday season. Target's comparable-store sales rose by less than 1%, compared to over 8% for Walmart and 7% for Costco. Shoppers are more focused on staples right now, and less interested in many of Target's more discretionary categories like home furnishings.
Source Fool.com
