Target's net sales barely grew by 0.9% in Q3 2024, significantly lagging behind Walmart's 5.0% and Amazon's 8.7% sales growth, demonstrating a challenging retail environment.
Target lowered its full-year sales guidance due to declining discretionary spending and rising costs, which starkly contrasts with Walmart's optimism after strong Q3 results.
Looking ahead, Walmart expects to enhance its full-year outlook thanks to healthier Q3 performance, while Amazon projects solid growth for the upcoming Q4.
In terms of ecommerce growth estimates, Target is anticipated to grow by 2.6% this year, falling short of Walmart's impressive 20.6% and Amazon's 9.9%.
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