Late May saw a slew of first-quarter earnings reports that reflected meaningful growth for companies like Target and Walmart, but also revealed some bigger shifts in consumer behavior and operational costs.
While shoppers dealing with higher fuel costs are pulling back in some areas, like DIY home projects, they’re also showing up to treat themselves for limited-edition collabs or deals at off-price retailers.
This week on the Modern Retail Podcast, special projects editor Melissa Daniels is joined by reporter Mitchell Parton to unpack some of the biggest hits and misses of earnings season.
HIT: Target’s comeback
Target’s turnaround plan is finally showing signs of paying off, as its first-quarter earnings showed a net sales increase of 6.7%. It was a big shift from six consecutive quarters of decline, with new CEO Michael Fiddelke crediting some of the growth to a new focus on serving busy families and improving merchandising.
