Target warns of a weak holiday season. Shares are tumbling | CNN Business

Target’s profit plunged 52% in the third quarter and the retailer warned of a sluggish holiday. Target blamed inflation and a deteriorating economic outlook for its miserable quarter — and also lowered its outlook for the rest of the year. That sent shares down more than 12% in premarket trading.

Looking forward to the busy holiday shopping season, Cornell said the “rapidly evolving consumer environment means we’re planning the balance of the year more conservatively.” Target forecasts a low-single digit percentage decline in sales at stores open at least a year.

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Remote work is likely to be a target during the recession - Dallas Business JournalTwitter's Elon Musk ended remote work as he warned of difficult times ahead. More executives are likely to follow his lead, but experts warn the move could backfire. Here's why.
Herkunft: DallasBizNews - 🏆 525. / 51 Weiterlesen »