Target Sell-Off: Is Now the Time to Buy?
Is Target (NYSE: TGT) stock done? One might think so, given the massive sell-off following its third-quarter 2022 earnings report.
Without a doubt, inflation and slowing consumer spending is likely to slow the company's growth in the near term. The question for investors is whether that is a reason to abandon this retail stock?
Admittedly, the Q3 2022 earnings report is one the company and its shareholders will want to forget. During the quarter, sales rose 3% to $26.5 billion. But that modest increase was not enough to offset a surge in the cost of sales and selling, and general and administrative expenses. With those expenses, net earnings dropped 52% during the period to $712 million.
Source Fool.com
