Target Stock Plunge Wipes $25 Billion As Inflation Squeezes Customers And Sends Costs Soaring—Spurring ‘Dramatic’ Earnings Shortfall

Shares of Target collapsed Wednesday after the brick-and-mortar retailer posted disappointing first-quarter earnings spurred by unexpectedly high costs that offset rising sales—spelling more trouble for the broader retail industry just one day after competitor Walmart posted its own stock-market plunge....

In a morning email, Adam Crisafulli called Target's shortfall more"dramatic" than Walmart's worse-than-expected, which pushed the stock down 11% on Tuesday, adding there are"clearly" industry-wide problems as food and gas inflation draw spending away from discretionary merchandise and force"aggressive" discounting to clear out products.

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Unlike Walmart and Target, these stocks tend to do well when inflation is highWhen rising costs crimp corporate profits and curb consumer demand, some stocks have a record of performing well during periods of rapid inflation.
مصدر: CNBC - 🏆 12. / 72 اقرأ أكثر »