Target Corp. warned investors in April that its first-quarter performance would be weaker than expected, but the results reported Wednesday were even worse than the retailer projected.
The Minneapolis-based mass retailer’s net earnings fell 28.5 percent to $498 million from $697 million in the year-ago quarter. For the three months ended May 4, earnings per share were $1.05, down 5 percent from $1.11 in 2012. Target said first-quarter earnings were below expectations due to soft sales in seasonal and weather-related categories.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)