Along with most other retailers, Target's (NYSE: TGT) faced tough times over the past year. Higher inflation and general economic woes have increased the company's costs -- and weighed on its customers' buying power.

We saw the results of this in the annual earnings report. Target announced a 60% drop in net earnings and a narrowing of gross margin.

And the economic environment continues to be difficult, meaning recovery will take time. Still, the worst may be over for this retail giant. In fact, 12 words from chief financial officer Michael Fiddelke make the stock a screaming buy right now.

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Source Fool.com