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Target sales fall as its ends ‘challenging’ year;’ new CEO cites ‘momentum’

Target Corp.’s sales slump continued in the fourth quarter amid falling revenue and store traffic even as its adjusted earnings easily topped forecasts.

But the discounter, which is looking to turn things around new CEO Michael Fiddelke, gave an upbeat sales outlook and noted that its sales and traffic accelerated in the last two months of the quarter. Fiddelke, who took the reins of the company on Feb. 1, also struck a positive regarding the current quarter.

 “Target saw a healthy, positive sales increase in February, serving as an important milestone on our path back to growth this year, and reinforcing my confidence in the momentum we’re building and the future we’re creating together,” Fiddelke said.

Target sales fall as its ends ‘challenging’ year;’ new CEO cites ‘momentum’ | Chain Store Age

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