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..