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Why Target Stock Went in Reverse Today

TheMotleyFool

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Why Target Stock Went in Reverse Today: https://g.foolcdn.com/editorial/images/709676/an-investor-covers-his-eyes-as-he-cant-watch-the-crash-of-the-stock-market.jpg

Shares of Target (NYSE: TGT) were down 13.7% as of 10:39 a.m. ET on Wednesday after the retailer reported a disappointing quarter. While revenue slightly beat Wall Street's expectations, earnings per share widely missed the consensus estimate.

Moreover, the company guided for a wider range of outcomes for the holiday quarter than expected, which weighed on the stock. Year to date, shares have fallen 32% over weakening sales and margins.

While the company delivered growth in comparable-store sales (comps) and gained market share across merchandise categories, management reported softening sales trends toward the end of the quarter.

Source Fool.com

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