Target Stock Plunges After Weak Earnings Report Ahead of Holiday Season
Published On Nov 20, 2024, 8:45 AM
Target's recent earnings report raised concerns as the retailer experienced a sales decline of 1.9% compared to the same quarter last year, despite a significant rise in online sales. The company also reported lower profits and an increase in unsold inventory, prompting it to cut its full-year profit forecasts. This downbeat performance comes just before the critical holiday shopping season, with analysts worried about how it may impact consumer spending during this period.
Stock Forecasts
TGT
Negative
Target's disappointing earnings and reduced guidance suggest significant challenges ahead, particularly in improving in-store sales and managing inventory effectively. This situation likely points to heightened volatility in its stock price in the short term as investor sentiment shifts negatively.
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