by John Carney
Breitbart.com
Target missed its mark in the first quarter of this year.
The company is feeling the pinch as high prices on essentials keep consumers’ wallets tight. The Minneapolis-based retailer reported another tough quarter, with revenue and profits falling short of expectations.
Target’s comparable sales, which include stores and digital channels open for at least a year, dropped 3.7 percent in the three months ending May 4, marking the fourth consecutive quarter of decline. Revenue fell 3.1 percent to $24.53 billion, just above Wall Street’s forecast of $24.52 billion. Net income was $942 million, or $2.03 per share, slightly missing analysts’ projections by three cents, according to the Wall Street Journal.