Target's Sales Down By 1.7% But Profits Jump In 2023

Target’s capital expenditure hit $4.8 billion last year. (Photo by Linda Rosier/NY Daily News ... [+] Archive via Getty Images)NY Daily News via Getty ImagesTarget TGT Corporation stock spiked in this morning’s pre-market as the retailer unveiled a big jump in operating income for 2023, up by nearly $2 billion compared to 2022 despite sales falling by 1.6% to $107.4 billion.Net earnings for the 12 months ending February 3 hit $4.14 billion, up from $2.78 billion, helped by a big rise in the company’s operat ...