By  on May 21, 2014

Struggling Target Corp. has a lot of work to do — and on Wednesday promised to move faster.

As the company reported a 16.1 percent drop in net profits in the first quarter and lowered its earnings outlook for the year, it reiterated plans to open smaller, more flexible store formats while vowing to grow traffic and sales in the U.S., improve the performance of its loss-making Canadian division, and accelerate its transformation into an omnichannel retailer.

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