Business
Target Inventory Alerts Portends Retail Bloodbath
Target’s inventory problem is happening even worse than it expected just a short while ago. Its latest warning could herald a promotional bloodbath among retailers this summer.
Retailers on Tuesday lowered its operating margin guidance its second quarter was 2%, less than half the profit it reported three weeks ago. The company said it is taking actions to “right size” its inventory, which will involve more price cuts and order cancellations.