NEW YORK (AP) — Target, which embarked on a turnaround plan under its new CEO earlier this year, reported an increase in first-quarter sales Wednesday.
More customers buying in all six of Target's main merchandising categories helped deliver the better-than-expected sales, the company said. The retail chain also raised its annual revenue outlook, saying it expected the momentum to continue the rest of the year.
Target CEO Michael Fiddelke, a 20-year company veteran who became the struggling retailer's chief executive in February, said he remained guardedly optimistic given where the company is in its operational overhaul.
"We're encouraged to see a strong guest response so far," Fiddelke told reporters Tuesday, adding: "We're maintaining a cautious outlook given the work we know we have in front of us and ongoing uncertainty in the macroeconomic environment."
