Target is grappling with a significant drop in quarterly profits, prompting concerns about a difficult holiday shopping season. The retailer has revised its profit outlook downward as customers increasingly seek discounts and make fewer trips to stores. With sales continuing to fall, Target is planning to invest $1 billion in store upgrades and further develop its AI capabilities to attract shoppers. As the company prepares for potential challenges, its new CEO aims to revamp operations amidst heightened competition and shifting consumer budgets. Investors are wary, watching closely for signs of recovery as Target navigates this challenging retail environment.