Retailers Target Corp. (TGT) and TJX Cos. Inc. (TJX) reported Wednesday profits for the second quarter that topped analysts' estimates. Profit soared more than four-fold at Target, reflecting improved gross margins, despite a 4.9 percent drop in revenues. Profit at TJX grew from last year, driven by improved gross margins and revenue growth.
Target slashed its guidance for the full-year 2023, while TJX raised its outlook for the full-year 2024.
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