Target profit sinks 64% as COVID-19 costs offset gains from sales surge
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(Reuters) - Target Corp reported a 64% plunge in quarterly profit on Wednesday, pummeled by costs to tackle the coronavirus outbreak, even as panic-buying during the crisis lifted the big-box retailer's online and store sales.The company spent about $500 million (£407.86 million) in the first quarter ended May 2 to maintain safety measures at stores and to pay employees higher wages for working through the pandemic."Last quarter was unlike anything I've ever seen," Chief Executive Brian..