Target's Profits Surge in Q4, Launches Membership Program to Boost Sales

Despite a dip in sales, Target's strategic initiatives and new membership program aim for a sales recovery and market share gains.

Target reports a 58% increase in fourth-quarter profits, surpassing Wall Street expectations with net income of $1.38 billion.
Comparable sales slipped 4.4%, but the company sees a potential recovery with the launch of Target Circle 360 membership program.
The new membership program aims to boost spending with features like unlimited same-day delivery, starting April 7.
Target plans to open more than 300 US stores and remodel 2,000 existing ones over the next decade.
The retailer remains focused on cost-cutting measures and inventory management to maintain profitability.