Target SLAMMED By Weak Sales Report; CEO Gives THIS Explanation
In the face of a weak sales report today and a dismal forecast for this quarter, Target's leadership is scrambling to explain why they're not doing so well.
According to the Wall Street Journal, the nationwide retailer missed its sales target for its last quarter, which ended April 30, and the forecast for the quarter we're now in doesn't look any better.
The Wall Street Journal pointed out that this is the first decline the company has seen since Brian Cornell became CEO in 2014.
Cornell tried to explain the weak report by saying Target is in "an increasingly volatile consumer environment."
While online giants like Amazon can hurt the sales of brick-and-mortal retailers, no mention was made of the massive outcry and 1.2-million signature boycott of the store sparked by their open bathroom policy announcement last month.