Target CFO Says June Comp Sales Fell 7%, July Down 5%
Portfolio Pulse from Happy Mohamed
Target's CFO has reported that the company's comparable sales fell by 7% in June and 5% in July. This indicates a slowdown in sales growth for the retail giant.
August 16, 2023 | 12:37 pm
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Target's comparable sales have fallen by 7% in June and 5% in July, indicating a slowdown in sales growth.
Comparable sales are a key indicator of a retailer's performance as they strip out the impact of newly opened and closed locations. A decrease in comparable sales indicates a slowdown in sales growth, which could negatively impact Target's stock price in the short term.
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