Target Corp. stumbled in the fourth quarter as markdowns weighed onits net earnings and although The TJX Cos. Inc. turned in strong resultsfor the period, the off-price giant acknowledged growth would slow thisyear.
Target’s net earnings fell 2 percent in the fourthquarter to $961 million, or $1.47 a diluted share, from $981 million, or$1.45, a year earlier. Adjusted earnings per share rose to $1.65, 17cents ahead of the $1.48 Wall Street analysts projected — but thecompany’s outlook disappointed and shares fell 1.5 percent to $63.12.
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?"