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The Latest Breaking News from Brian Cornell

Walmart and Target earnings pull back the curtain on an America struggling with high inflation

“Many consumer pocketbooks are still stretched,” Walmart CFO John Rainey told analysts. “We see the effect of that in our business mix.”

Fortune

Target Stock Sinks on Q1 Earnings Miss: What To Know

Target stock slumped after the retailer's earnings and revenue were hit by a tough consumer spending environment. Here's what you need to know.

Kiplinger

Retailers howled about theft last year. Why not now?

Mentions of retail theft seem to be fading, their fever pitch cooling. What's changed? And how bad was the problem in the first place?

WEKU

From analysis to the latest developments in health,
read the most diverse news in one place.

Target Is Getting Ready To Compete Against Walmart And Amazon — Too Late In The Game?

Over the years, Target has become a "one-stop-shop" retailer, allowing shoppers to buy everything, from groceries to medicine and apparel. In addition, it has combined online shopping with offline shopping.

International Business Times

Target's Capital Expenditure Reaches .8 Billion In 2023

Target Corporation's strong financial performance in 2023, driven by increased operating income and net earnings, outperforming competitors in foot traffic...

Top News

Target gains $9 billion in market cap despite falling sales last quarter, as Wall Street gets an up-close look at the health of the American consumer

But Target's 20% stock bump from its earnings still leaves it 14% down from the beginning of the year, or $17 billion.

Fortune

Target to close 9 stores over theft that ‘threatens’ workers and shoppers

Target said it's closing nine store in four states, including one in East Harlem, New York and three in San Francisco, saying that theft and organized retail crime have threatened the safety of its workers and customers

The Independent UK

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Target to close 9 stores including 3 in San Francisco, citing theft that threatens workers, shoppers

The Independent UK

Target bosses pledge 'modifications' to its Pride Month collections after transgender merch backlash

The big-box retailer suffered its first sales drop in six years after foot traffic tailed off once it began selling items like "tuck-friendly" bathing suits.

Fortune

Target Q2 sales fall on muted spending, Pride month backlash, and it cuts profit outlook for 2023

Target reported its first quarterly sales drop in six years, dragged down by shoppers' inflation worries and a negative reaction by some customers, widely publicized on social media, to its Pride merchandise

The Independent UK

Target sees drop in sales after rightwing backlash to Pride merchandise

Sales fell 5.4% over the last three months, a higher decline than expectations, according to second-quarter earnings report

The Guardian - US

Target’s CEO slams ‘gut-wrenching’ threats over LGBTQ-themed goods

Target Corp.’s top executive hammered the aggressive behavior that some customers directed toward employees because of the retailer’s collection of LGBTQ-themed merchandise.

Tribune News Service

Target axes Pride merch over MAGA gripes

California Gov. Gavin Newsom said the move was part of a "systematic attack on the gay community" around the U.S.

Salon

Target CEO makes shock announcement over 'violent' theft toll causing chaos for retailers

The CEO issued a warning over an increase in 'violent' thefts, the scale of which is having serious financial implications for the retail industry

Daily Mirror

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Fortune

Target CEO: DEI has ‘fueled much of our growth over the last 9 years’

CEO Brian Cornell says doing what's right for employees and the company culture adds value for shareholders.

Investors Business Daily

Stock Market Higher But Target Chills Consumer Outlook. Broadcom Called Top-10 AI Play.

The stock market strengthened in midday trading Wednesday as indexes held near session highs.

The Independent UK

Target issues tepid outlook after a 43% profit drop in 4Q

Target has reported a 43% drop in profits and a slight uptick in sales for the holiday quarter

Fortune

Too few retail execs have the chops to be CEO anymore

Retail boards are struggling with fewer prospects to fill the corner office.

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news in one place.

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Fortune

Will shoppers spend big this holiday season? Tech executives and analysts are oddly unsure headed into Black Friday

Buyers will get access to deep discounts this year, but inflation and other headwinds are weighing on purchasing power.

Tribune News Service

PepsiCo Foods CEO believes ‘your attitude will determine your altitude’

If you want to see Steven Williams’ eyes light up, mention Nacho Cheese Doritos.

Tribune News Service

Target CEO Cornell will stay past 65, logistics chief exits

Target Corp.'s chief executive, Brian Cornell, will stay with the company at least three more years, a step necessitating a change in its retirement rules, the company said Wednesday.

Benzinga

Joe Biden Calls Chevron CEO 'Sensitive,' Invites Target Chief's Ire Amid Gas Price Debate

Joe Biden's spat with American corporate executives intensified this week as he traded barbs with the CEO of Chevron Corp (NASDAQ: CVX), while Target Corp's (NYSE: T

The Independent UK

Biden, Chevron chief trade sharp words over gas prices

In a pointed back and forth, the head of Chevron has complained that President Joe Biden has vilified energy firms at a time when gasoline prices are at near record levels and the president responded that the oil company CEO was being “mildly sensitive.”

Tribune News Service

Inflation crushes Target's profit, shares plunge 25%

Inflation smacked Target Corp. over the past three months, leading to a profit drop that surprised investors and triggered a huge selloff of its stock.

Tribune News Service

After prospering in the pandemic, Target is now a symbol of inflation's impact

Target Corp., whose growth in the pandemic pushed its stock to record heights, on Wednesday became a symbol of inflation's toll on the American economy.

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