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.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"