Target said Tuesday that it hopes to build on its recent growth by investing about $4 billion annually over the next several years to speed along new stores, remodel existing ones and increase its ability to quickly fulfill online orders.
Investors and analysts were left without a key piece of information, however: an outlook for the year. The company declined to provide guidance, saying Covid-19 made it difficult to predict consumer spending.
Shares were down nearly 5% early Tuesday, despite Target beating fourth-quarter earnings expectations.
