( ) -q-21- UNDATED (Correspondent Jeremy House) “shoppers’ cautionary spending.” Target has reported weaker-than-expected sales for its the fiscal second quarter. [CutID: <Cuts> TARGET-SALES-house-q-WEDam.mp3 Time: 21s Title: TARGET-SALES-house-q-WEDam Out-cue: shoppers’ cautionary spending] TAG: Correspondent Jeremy House reporting. Target cut its annual financial outlook, citing expectations that higher interest rates and still-high prices on food will […]
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Target posts weak sales in Q2, hurt by Pride merchandise flap
( ) -q-21- UNDATED (Correspondent Jeremy House) “shoppers’ cautionary spending.”
Target has reported weaker-than-expected sales for its the fiscal second quarter.
[CutID: <Cuts> TARGET-SALES-house-q-WEDam.mp3
Time: 21s
Title: TARGET-SALES-house-q-WEDam
Out-cue: shoppers’ cautionary spending]
TAG: Correspondent Jeremy House reporting. Target cut its annual financial outlook, citing expectations that higher interest rates and still-high prices on food will strain shoppers’ budgets.
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VERBATIM: The retailer’s results were hit by headwinds including inflation and the widely publicized negative reaction by some customers to its Pride merchandise. But the Minneapolis-based chain’s quarterly profits came in above expectations. Its bottom line was helped by efforts to bring inventories in line with shoppers’ cautionary spending.