Target stock price falls 7% on weak holiday sales, cut forecast - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

Target slips 7% after a weak holiday season forces it to slash sales forecast by more than half

fell by as much as 7% in early trading Wednesday after the retailer reported that its holiday sales were much lower than Wall Street expected. The company also lowered its guidance for sales going forward.

Target's weak holiday sales numbers come amid dismal results from similar stores, including Kohl's, JCPenney, and Macy's, and underscore an increasingly tough backdrop for retailers. The results also foreshadow more potential pain ahead — shares of Walmart, which reports holiday sales next month, traded down as much as 2.4% Wednesday.

"We also remain on track to deliver historically strong full-year results in 2019, including comparable sales growth of more than 3 percent and record-high EPS reflecting mid-teens growth compared with last year," he said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Casper CEO's $1 billion 'unicorn' valuation put off Target, Tempur Sealy - Business InsiderPhilip Krim's price tag for his online mattress seller may have put off Target, Tempur Sealy, and Serta Simmons.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Casper CEO's $1 billion 'unicorn' valuation put off Target, Tempur Sealy - Business InsiderPhilip Krim's price tag for his online mattress seller may have put off Target, Tempur Sealy, and Serta Simmons.
Source: BusinessInsider - 🏆 729. / 51 Read more »