The discounter Target reached the deal with Kendra Scott as it has struggled with slower sales, especially of discretionary merchandise.
now expects comparable sales to drop by around mid single digits, and earnings per share to range from $7 to $8 for the full fiscal year.
Shares of Target have fallen nearly 18% this year, far behind the 17% gains of the S&P 500. The company's stock hit a 52-week low in late August.will feel pressured in the coming months because of the return of student loan payments, rising interest rates, and the still higher cost of necessities. Yet Target has had luck getting shoppers to add some discretionary items to their baskets: makeup and other beauty items.
Sales at its mini Ulta shops in the fiscal second quarter more than doubled, and sales of other beauty items posted double-digit gains compared with a year ago, Target's Chief Growth Officer Christina Hennington said last month.
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