Overview

• Target reports a 58% increase in fourth-quarter profits, surpassing Wall Street expectations with net income of $1.38 billion.
• Comparable sales slipped 4.4%, but the company sees a potential recovery with the launch of Target Circle 360 membership program.
• The new membership program aims to boost spending with features like unlimited same-day delivery, starting April 7.
• Target plans to open more than 300 US stores and remodel 2,000 existing ones over the next decade.
• The retailer remains focused on cost-cutting measures and inventory management to maintain profitability.