Moody’s Investors Service is offering Target Corp. some food for thought Tuesday in a report that highlights the advantage Wal-Mart Stores Inc.’s U.S. business enjoys over its smaller rival in the size and scale of its grocery business.
Wal-Mart WMT, -2.41% is making progress against Target TGT, +0.71% as investments of the past several years begin to show results, according to a new report from the rating agency.
Both retailers have grappled with some big challenges in recent years, said Moody’s. Target is still repairing its reputation after a massive credit-card breach in 2013 and its abrupt decision to withdraw from Canada at a cost of $5.4 billion in 2015.
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