Target’s comparable sales declined as expected in 4Q as sticky inflation and other macro pressures continued to pinch discretionary spending, but the retail giant pumped up margins during the quarter and delivered higher earnings than expected. Gross margin was 25.6%, up from 22.7% in the year-ago quarter, due to lower markdowns, freight costs, supply chain costs and digital fulfillment costs, along with favorable shifts in category mix. Shrink costs were also lower than they were a year ago, with higher store loss rates being offset by the timing of inventory accruals. Per-share earnings of $2.98 cleared analyst forecasts for $2.42 according to FactSet.