Target reports stronger-than-expected quarterly sales amid turnaround
Target is reporting strong sales for the first quarter first quarter.
Theretail chain embarked earlier this year on a $6 billion plan to reverse three consecutive years of declining sales.
CEO Michael Fiddelke says that he is cautiously optimistic.
Fiddelke took over as chief executive in February.
The company is remodeling stores and trying to reclaim its reputation for stocking stylish affordable clothing.
Target is one of the first major retailers to report financial results for February through April.
Analysts will be listening for executives to comment on whether consumer behavior has changed due to surging gasoline prices.
- Target posts biggest jump in comparable sales in 4 years as turnaround takes shape Fortune —
- Target's comparable sales post the biggest jump in 4 years during the first quarter ABC News —
- Target Reports Strongest Sales Gain in Years Wall Street Journal —
- Target posted its first sales growth in over a year — and raised its full-year outlook Quartz —
- Target grabs a much-needed win by going all in on style and value Business Insider —