Consumer spending was top of mind as Target and Walmart released their third-quarter earnings, causing both retail giants to strike a cautious tone concerning inventory and the upcoming holiday season.
Target
While combating industry challenges like inflation and inventory shrink, Target continues to experience significant improvement in profitability, with earnings per share (EPS) up over 40% and operating income growing by over $1 billion compared to last year, according to its Q3 2023 earnings report.
