April 14, 2021
Business News

Target stock dives as retailer reveals new $4 billion spending spree

Target (TGT) is slamming its foot on the accelerator to position its business for the post COVID-19 pandemic spending environment. Investors think Target needs to settle down just a touch, however.

The discounter said Tuesday at its investor day it will spend $4 billion annually the next several years to invest in various initiatives. The amount is a material step up from the $2.7 billion Target spent on capital expenditures in 2020, and the $3 billion spent in 2019.

Target’s spending spree is…

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