Goal Corp. held its ground in the primary quarter.
However the discounter has loads of competition and continued to get battered in discretionary goods within the early innings of 2023. The corporate also warned that the growing and industry-wide problem of inventory shrink would sap a further $500 million out of its earnings this yr.
“We got here into the yr clear-eyed about what consumers are facing with persistent inflation and rising rates of interest,” said Brian Cornell, chair and chief executive officer, on a conference call with Wall Street analysts. “And we were determined to construct on the trust our guests have had in Goal by unifying as a team to deliver inexpensive joy each and every single day.”
Inexpensive joy, it...
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