Target announced this morning that Q3 net sales were down 4.3 percent to $25 billion, with same-store sales down 4.6 percent and digital sales down six percent.
There was some good news, though - Q3 net income was up 36 percent to $971 million, from $712 million during the same period a year ago.
The company cautioned that it expects its Q4 performance to be underwhelming.
- KC's View:
Increased profit numbers may give Target management some room to maneuver, but they've got a lot of work to do. According to MNB readers who chimed in on this subject, that means revitalizing their stores and improving their website. (Which certainly explains the dropping same-store and digital sales numbers.)