Retail

Target's Shares Drop on Worries Over Holiday

One year ago   |   By

While Target Corp. grew traffic and sales in the third quarter, the Minneapolis-based retailer's net income declined 21 percent to $480 billion, from $608 billion in the 2016 third quarter. Earnings per share of 87 cents were near the high end of the retailer's guidance range of of 75 cent to 95 cents per share, beating Wall Street's consensus estimate of 86 cents.
Target's share dove 5 percent in pre-market trading activity, signaling investors' concerns about the holiday season, which promises to be brutally competitive as the mass merchant faces not only chief rival Wal-Mart but also...
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