The Latest Breaking News from Brian Cornell

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

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

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.”

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.

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.

Target Corp (NYSE:TGT) reported first-quarter FY22 sales growth of 4% year-on-year to $25.17 billion, beating the consensus of $24.37 billion. Comparable sales grew 3.3%. Comparable store sales increased 3.4%, and comparable digital sales rose 3.2%. Sales by stores constituted 81.8% of total sales, while digital channel sales represented 18.2%. Gross margin for the…