Target Corp (TGT)

[MiamiGent]

TARGET CORP TANKING TODAY

$154.64 -24.34 (-13.60%)

As of Nov-16-202210:42:27 AM ET

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Target's Fiscal Third-Quarter Earnings Slump, Miss Street Views; Gives Downbeat Sales View in Holiday Season
By MT Newswires — 8:49 AM ET 11/16/22

08:49 AM EST, 11/16/2022 (MT Newswires) -- Target (TGT.NaE) reported mixed fiscal third-quarter results as higher sales were offset by a 49% decline in earnings that missed analysts' estimates, while the retailer outlined a cautious near-term outlook as the key holiday shopping season picks up.

Adjusted profit came in at $1.54 a share for the three months through Oct. 29, tumbling from $3.03 a year earlier, and below the Capital IQ-polled consensus of $2.18. Revenue edged up 3.4% to $26.52 billion, just ahead of the Street's view for $26.4 billion. Shares of the company were down 15% in premarket trading.

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