Reported about 24 hours ago
Target's CEO is adopting a cautious approach as the retailer faced significant misses in earnings estimates for the third quarter, prompting a cut in its full-year guidance. The company reported a 1.1% increase in net sales but fell short of Wall Street forecasts, leading to a 16% drop in share prices. Unlike rival Walmart, which outperformed expectations, Target's executives noted that consumers are spending more carefully, reflecting challenges in discretionary spending while acknowledging a strong start to the holiday shopping season.
Source: YAHOO