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.

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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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