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Target lowers Q1 sales and profit forecast
Softer than expected sales trends prompted Target to lower its first quarter earnings outlook Tuesday morning.
The company said it now expects first quarter comps to be flat, after previously forecasting a range of flat to 2% growth. The softer than expected sales prompted the company to revise first quarter adjusted profit expectations to an unspecified level of "slightly below" earlier guidance of $1.10 to $1.20.
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Market Street Place to launch construction
San Francisco -- Dallas-based Cypress Equities said Monday that construction is about to begin on the site of what will become Market Street Place, a 250,000-sq.-ft. retail center scheduled to open in 2015 and co-developed by Cypress Equities and The Carlyle Group.
Market Street Place will be a six-level, urban retail redevelopment designed by Gensler’s San Francisco architectural team.