Target to cut jobs as part of $2B cost-savings plan

Target’s chief executive, Brian Cornell, said Tuesday the retailer will cut several thousand jobs within the next two years as part of a $2 billion cost-savings plan. The Minneapolis-based company also announced 2015 guidance of $4.45 to $4.65 adjusted earnings per share. Wall Street expected Target’s guidance at $4.50 adjusted earnings per share. Target also expects digital sales to increase 40 percent and same-store sales between 1.5 and 2.5 percent, with modest improvement in gross margins and expense rates. It projects overall 2015 sales to grow between 2 and 3 percent. The company’s stock closed at $78, or up 0.41 percent.

I know what you’re thinking…probably the same thing I’m thinking..   I hope they don’t close MY Target!  The one I go to is a mile from my home.  Target is also closing most of its stores up north in Canada.  Hope that that doesn’t happen here!  We’ll keep an eye on this one..

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