A word of advice to investors who remain leery of Target Corp. (NYSE: TGT): Set aside any lingering doubts and get back into the stock. Target’s on the mend after recent setbacks. #-ad_banner-#I’m referring, of course, to the discount retail giant’s infamous 2013 security breach that exposed the credit card data of some 70 million customers. Also that year, Target kicked off what would prove to be a brief, poorly executed attempt at Canadian expansion. That ended abruptly early last year with a $5.4 billion write-down and roughly $2 billion in net losses. All this crushed the bottom line, with… Read More
A word of advice to investors who remain leery of Target Corp. (NYSE: TGT): Set aside any lingering doubts and get back into the stock. Target’s on the mend after recent setbacks. #-ad_banner-#I’m referring, of course, to the discount retail giant’s infamous 2013 security breach that exposed the credit card data of some 70 million customers. Also that year, Target kicked off what would prove to be a brief, poorly executed attempt at Canadian expansion. That ended abruptly early last year with a $5.4 billion write-down and roughly $2 billion in net losses. All this crushed the bottom line, with Target posting more than a $1.6-billion net loss in the 12 months ended January 31, 2015 versus a $3-billion profit two years earlier. Target’s stock was in or near bear territory during much of these turbulent times and the firm’s image suffered, putting management in the unenviable position of having to win back both customers and investors. But much has changed since then. Under new CEO Brian Cornell, a three-decade retail and consumer products veteran who took command right in the middle of the tumult, Target and its stock are executing a decisive turnaround. One key move: divesting… Read More