Target said Wednesday it plans to invest $5 billion across stores next year in an effort to win back customers as the retail giant reported its 12th-straight month of weak or falling sales.Same-store sales fell 2.7% in the three months ended Nov. 1. Customers visited Target less often and spent less while they were there, with foot traffic plunging 2.2% and average transactions falling 0.5% from the previous year.Target said Wednesday that it plans to invest $5 billion across stores next year. REUTERSShares ...

Core Insights - Starbucks is launching a new holiday drink, the Frozen Peppermint Hot Chocolate, exclusively at Target locations during the holiday season [1][2] - The company aims to leverage the holiday season's consumer enthusiasm, as evidenced by high demand for limited-edition items like the "Bearista" cups [2] - CEO Brian Niccol reported that the recent holiday launch was the biggest sales day ever in North America, with millennial and Gen Z customers driving improvements in customer value perception [3] Company Strategy - The collaboration with Target is timed for the peak shopping season leading up to Christmas, with early access for Target Circle 360 loyalty members [4] - Both Starbucks and Target are facing challenges, including consumer backlash and boycotts, amid rising inflation and decreased consumer spending [4][5] Financial Performance - Starbucks reported its fourth-quarter earnings with a notable increase in same-store sales for the first time in nearly two years, although U.S. same-store sales remained flat for the quarter [6]