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AP National Business

Target navigates tricky holiday season, posts strong outlook

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Published 5:33 AM

By ANNE D’INNOCENZIO
AP Retail Writer

NEW YORK (AP) — Target pushed through headwinds — from inflation to congested ports — to deliver solid results for the three-month period that included the crucial holiday shopping season. The Minneapolis-based discount retailer reported Tuesday that its fiscal fourth-quarter profits rose nearly 12%, while sales increased 9.4%. Target also offered an upbeat annual revenue outlook. Target joined Walmart and major home improvement retailers Home Depot and Lowe’s in posting strong fourth-quarter results. Like other retailers, Target faced rising costs for everything from labor to shipping as supply chain backups hit companies worldwide during the holidays. But it used its clout to muscle through by chartering vessels for its goods ahead of the holiday shipping crunch.

Article Topic Follows: AP National Business

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