( ) -q-22- UNDATED (Correspondent Jeremy House) “season for Target.” Target has reported a slim increase in sales for the third quarter and a slump in profit. [CutID: <Cuts> TARGET-PROFIT-house-q-WEDam.mp3 Time: 22s Title: TARGET-PROFIT-house-q-WEDam Out-cue: season for Target] TAG: Correspondent Jeremy House reporting. Target posted net income of $854 million in the quarter that ended […]
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Target reports a slump in third-quarter profit and sets soft holiday outlook
( ) -q-22- UNDATED (Correspondent Jeremy House) “season for Target.”
Target has reported a slim increase in sales for the third quarter and a slump in profit.
[CutID: <Cuts> TARGET-PROFIT-house-q-WEDam.mp3
Time: 22s
Title: TARGET-PROFIT-house-q-WEDam
Out-cue: season for Target]
TAG: Correspondent Jeremy House reporting. Target posted net income of $854 million in the quarter that ended November 2, down from $971 million a year ago. Sales rose to $25.67 billion from $25.4 billion.
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VERBATIM: The grim news comes as Target grappled with a pullback by inflation-weary customers and costs related to the dockworker strike in October. The results were below retail industry analysts’ forecasts. The Minneapolis-based company also offered an outlook that missed analysts’ projections. That forebodes a challenging holiday shopping season for Target.