Target’s price drop pays off for sales

Target's decision to cut prices is paying off.

COLUMBIA, S.C. (WOLO)— Target’s decision to cut prices is paying off.

Holiday-quarter sales rose slightly, up nearly 1%, compared to the same period the year prior.

But that beat Wall Street’s expectations, which predicted a decline.

Targets says consumers spent more money on food, beauty, and household essentials.

As for the rest of 2023, the retailer expects sales to range from a low-single decline to a low-single digit increase.