Target's earnings surge despite holiday sales dip, sees sales recovery in 2024

Target on Tuesday reported higher holiday-quarter earnings on a smaller-than-expected sales decline and predicted that annual comparable sales would come in largely above Wall Street expectations, sending its shares up as much as 11% in premarket trading. The mass merchandiser is banking on same-day services, product launches and a new membership program to boost spending at its stores.Target reported adjusted earnings of $2.98 per share in the fourth quarter, compared to $1.89 per share in the same period ...