WEB Notes: They are not laying employees off because the company has record sales that is for certain.
(Source: CNBC) – 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. – Read More – Read More – CNBC