Target sales surge in latest sign that shoppers are flocking to low-cost retailers

Target’s earnings and revenue beat Wall Street’s forecasts in the latest sign that shoppers are flocking to discount chains as inflation has left prices stubbornly high.The “cheap chic” retailer raised its full-year profit forecast on Wednesday and reported its first increase in quarterly comparable sales in over a year, driven by price cuts that attracted more shoppers to its stores.Shares of the Minneapolis-based retailer rose 11% in pre-market trading, after the chain said it expects 2024 profit in the r ...