Why Target Stock Was Falling Today
Shares of Target (NYSE: TGT) were sliding this morning after the big-box chain posted underwhelming results for its holiday season. Comparable sales came in lower than expected as the company dealt with challenges in certain sectors, though it maintained its earnings guidance for the quarter. As a result, the stock was down 7.2% as of 10:55 a.m. EST.
Target said comparable sales rose 1.4% in the November/December period, which was below the company's earlier forecast of 3%-4% growth. Digital sales increased just 19% in the period, its slowest growth rate in that category in recent memory, down from 31% in the third quarter.
Image source: Target.
Source Fool.com
