According to the U.S. Department of Commerce, retail sales in the United States remained unchanged in July. Moreover, retail giant Target Corporation’s (TGT) quarterly profit plunged approximately 90% year-over-year in the quarter ended July 30, 2022. However, the company’s management is confident about the company’s near-term performance.
TGT’s Chief Financial Officer, Michael Fiddelke, said, “While our quarterly profit took a meaningful step down, our future path is brighter.”
