Investors Eye Target Plan

WWD

After a detailed presentation to Wall Street Tuesday and an after-market report that spotlighted a turnaround effort aimed at saving $1.5 billion, shares of Target Corp. were mixed this morning as investors digested chairman and chief executive officer Brian Cornell’s plan to grow the retailer.

At the bell this morning, shares of Target leapt 1 percent to $78.89 from yesterday’s close. But shares dipped as the morning progressed falling over 0.36 percent under higher trading volume. By midday, shares of the retailer were trending up about 0.07 percent.

Cornell said his plan includes cutting Target’s workforce as well as creating a more engaging shopping experience. Bolstering the company’s TargetExpress and CityTarget formats were also on his « to do » list.

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