If the health of the American shopper can be divined from retail chains’ financial results, Target just gave Wall Street its best prognosis in months. The Minneapolis-based chain had lower sales, but made more money this quarter, a feat that sent its stock up almost 20% on Wednesday.
That’s giving analysts hope that the retailer has turned the corner after several difficult quarters, as consumer spending mounts a cautious recovery. Target’s improving—although still not growing—revenue numbers and profits that far exceeded expectations could make this earnings report a turning point.
