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Target in Q4 loss on Canada exit, but sales top estimates
Minneapolis -- Target on Wednesday reported a net loss of $2.6 billion (pre-tax loss of $5.1 billion) in its fourth quarter due to the impact of its exit from Canada, compared to a $520 million gain year-ago period. However, the chain’s adjusted earnings came in at $1.50 per share, beating Wall Street estimates of $1.46 per share.
Target’s sales increased 4.1% to $21.8 billion, also better than expected, on increased store traffic and online growth. It was the chain’s best sales growth in three years.
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Wendy’s adds former Microsoft marketing head to board
Dublin, Ohio - The Wendy's Co. has increased the size of its board of directors from 10 to 11 members and elected Michelle "Mich" Mathews-Spradlin to serve as a director of the company, effective immediately.
Prior to her retirement in 2011, Mathews-Spradlin worked at Microsoft Corp. for 18 years, where she served, among other roles, as chief marketing officer and senior VP. In this position, she oversaw the company's global marketing function.
