Earnings

Target (TGT) earnings Q1 2020

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Target‘s digital sales fueled first-quarter gains, but the big-box retailer’s earnings results Wednesday showed it paid a hefty price for that growth as labor costs rose and sales of higher-margin items, such as apparel, dropped.

Shares were down about 1% in premarket trading.

The retailer’s stores have remained open across the country during the coronavirus pandemic, but the crisis has underscored the challenge of making money from e-commerce. As retailers sell more online, they’re also taking on more work, such as picking items, packing them and shipping them. That typically squeezes their profits — whether retailers fill an order for curbside pickup, mail it or deliver it to customers’…



Source cnbc.com

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