Target falls more than 20% after cutting full-year profit outlook
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- เผยแพร่เมื่อ 28 พ.ย. 2024
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Target (TGT) stock tanked in early trading on Wednesday, falling more than 20% after the retail giant slashed its full-year guidance and missed Wall Street's estimates for both earnings per share and revenue in its third quarter.
Before the bell, Target said it now expects full-year earnings per share in a range of $8.30 to $8.90, below its prior range of $9.00 to $9.70. The new guidance also came in well below the $9.61 earnings per share that Wall Street had expected.
The retailer also took a cautious stance on prospects for the holiday shopping season. Read more on Target's quarter from Yahoo Finance Executive editor Brian Sozzi here.
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