Target finally gets some good news. But there’s a catch

After a half year of negative headlines, culture war distractions and a massive stock slump, Target finally had something to cheer.

Target’s profit beat Wall Street’s expectations last quarter, and the stock surged 9% in premarket trading Wednesday.

Although investors cheered the news, Target is hardly in great shape. Sales tumbled for the second quarter in a row. And the company forecast a weak holiday, as customers continue to forgo discretionary purchases.

This is a developing story. It will be updated.