{"id":128260,"date":"2024-11-21T03:16:48","date_gmt":"2024-11-20T20:16:48","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=128260"},"modified":"2024-11-21T03:16:48","modified_gmt":"2024-11-20T20:16:48","slug":"target-stock-plunges-after-weak-earnings-report-ahead-of-holiday-season","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=128260","title":{"rendered":"Target Stock Plunges After Weak Earnings Report Ahead of Holiday Season"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div data-testid=\"companionColumn-0\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Target rattled Wall Street on Wednesday with a downbeat earnings report showing a sales decline, lower profit and an unwelcome buildup of unsold inventory. The company also cut its forecast for the full year, a bad omen ahead of the critical holiday shopping season.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Target\u2019s stock plunged more than 20 percent, putting it on track for one of its biggest daily declines on record, behind another ugly earnings day in mid-2022 and \u201c<a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/1987\/12\/20\/magazine\/blown-away-by-black-monday.html\" title=\"\">Black Monday<\/a>\u201d in October 1987.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Sales at Target stores last quarter fell 1.9 percent from the same period last year, offset somewhat by a 10.8 percent rise in online sales. The company said it expected sales to be flat this quarter and cut its forecast for full-year profit, almost entirely reversing an increase announced just three months ago.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Jim Lee, Target\u2019s chief financial officer, told analysts on a call that it was \u201cprudent to take this conservative approach\u201d and that the company would take \u201cswift and disciplined action to position ourselves to win during the holidays and in 2025.\u201d<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-1\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Target had recently made improvements that drew shoppers to its stores, but the earnings setback suggests that there is more work to do. Brian Cornell, Target\u2019s chief executive, said in a statement that the retailer was navigating through \u201ca volatile operating environment.\u201d<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The weaker-than-expected report covered the period of back-to-school shopping and Halloween, which can signal more challenges during the crucial final weeks of the year. Retailers look to those seasonal events as indicators of how shoppers might spend around Thanksgiving and Christmas. <\/p>\n<div class=\"css-1336jj\">\n<div class=\"css-121kum4\">\n<div class=\"css-asuuk5\"><noscript><\/p>\n<div class=\"css-7axq9l\" data-testid=\"optimistic-truncator-noscript\"><svg width=\"24\" height=\"24\" viewbox=\"0 0 24 24\" aria-hidden=\"true\" class=\"css-1b5b8u1\"><path fill=\"currentColor\" fill-rule=\"evenodd\" d=\"M2.5 12a9.5 9.5 0 1 1 19 0 9.5 9.5 0 0 1-19 0Zm8.5 1.75v-7.5h2v7.5h-2Zm0 2v2h2v-2h-2Z\" clip-rule=\"evenodd\"\/><\/svg><\/p>\n<div data-testid=\"optimistic-truncator-noscript-message\" class=\"css-6yo1no\">\n<p class=\"css-3kpklk\">We are having trouble retrieving the article content.<\/p>\n<p class=\"css-3kpklk\">Please enable JavaScript in your browser settings.<\/p>\n<\/div>\n<\/div>\n<p><\/noscript><\/p>\n<div class=\"css-1dv1kvn\" id=\"optimistic-truncator-a11y\" tabindex=\"-1\">\n<hr\/>\n<p>Thank you for your patience while we verify access. If you are in Reader mode please exit and\u00a0<a href=\"https:\/\/myaccount.nytimes.com\/auth\/login?response_type=cookie&amp;client_id=vi&amp;redirect_uri=https%3A%2F%2Fwww.nytimes.com%2F2024%2F11%2F20%2Fbusiness%2Ftarget-earnings-holiday-shopping.html&amp;asset=opttrunc\">log into<\/a>\u00a0your Times account, or\u00a0<a href=\"https:\/\/www.nytimes.com\/subscription?campaignId=89WYR&amp;redirect_uri=https%3A%2F%2Fwww.nytimes.com%2F2024%2F11%2F20%2Fbusiness%2Ftarget-earnings-holiday-shopping.html\">subscribe<\/a>\u00a0for all of The Times.<\/p>\n<hr\/>\n<\/div>\n<div class=\"css-1g71tqy\"><svg width=\"24\" height=\"24\" viewbox=\"0 0 24 24\" aria-hidden=\"true\" class=\"css-63woee\" data-testid=\"optimistic-truncator-spinner\"><g fill=\"currentColor\"><path d=\"M11.28 22.8a.72.72 0 1 0 1.44 0v-6.72a.72.72 0 1 0-1.44 0v6.72Z\" opacity=\".37\"\/><path d=\"M17.766 21.16a.72.72 0 1 0 1.165-.846l-3.95-5.436a.72.72 0 1 0-1.165.846l3.95 5.437Z\" opacity=\".26\"\/><path d=\"M1.506 14.653a.72.72 0 0 0 .445 1.37l6.391-2.078a.72.72 0 1 0-.445-1.369l-6.39 2.077Z\" opacity=\".61\"\/><path d=\"M5.07 20.314a.72.72 0 0 0 1.164.847l3.95-5.437a.72.72 0 1 0-1.165-.846l-3.95 5.436Z\" opacity=\".48\"\/><path d=\"M22.049 16.022a.72.72 0 0 0 .445-1.37l-6.391-2.076a.72.72 0 1 0-.445 1.37l6.39 2.076Z\" opacity=\".17\"\/><path d=\"M22.494 9.347a.72.72 0 1 0-.445-1.37l-6.391 2.078a.72.72 0 1 0 .445 1.369l6.39-2.077Z\" opacity=\".09\"\/><path d=\"M6.234 2.84a.72.72 0 0 0-1.165.846l3.95 5.436a.72.72 0 0 0 1.165-.846l-3.95-5.437Z\" opacity=\".87\"\/><path d=\"M1.951 7.978a.72.72 0 1 0-.445 1.37l6.391 2.076a.72.72 0 1 0 .445-1.37l-6.39-2.076Z\" opacity=\".74\"\/><path d=\"M18.93 3.686a.72.72 0 0 0-1.164-.847l-3.95 5.437a.72.72 0 0 0 1.165.846l3.95-5.436Z\" opacity=\".02\"\/><path d=\"M12.72 1.2a.72.72 0 1 0-1.44 0v6.72a.72.72 0 0 0 1.44 0V1.2Z\"\/><\/g><\/svg><\/p>\n<div data-testid=\"optimistic-truncator-message\" class=\"css-6yo1no\">\n<p class=\"css-3kpklk\">Thank you for your patience while we verify access.<\/p>\n<p class=\"css-3kpklk\">Already a subscriber?\u00a0<a data-testid=\"log-in-link\" class=\"css-z5ryv4\" href=\"https:\/\/myaccount.nytimes.com\/auth\/login?response_type=cookie&amp;client_id=vi&amp;redirect_uri=https%3A%2F%2Fwww.nytimes.com%2F2024%2F11%2F20%2Fbusiness%2Ftarget-earnings-holiday-shopping.html&amp;asset=opttrunc\">Log in<\/a>.<\/p>\n<p class=\"css-3kpklk\">Want all of The Times?\u00a0<a data-testid=\"subscribe-link\" class=\"css-z5ryv4\" href=\"https:\/\/www.nytimes.com\/subscription?campaignId=89WYR&amp;redirect_uri=https%3A%2F%2Fwww.nytimes.com%2F2024%2F11%2F20%2Fbusiness%2Ftarget-earnings-holiday-shopping.html\">Subscribe<\/a>.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.nytimes.com\/2024\/11\/20\/business\/target-earnings-holiday-shopping.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Target rattled Wall Street on Wednesday with a downbeat earnings report showing a sales decline, lower profit and an unwelcome buildup of unsold inventory. The company also cut its forecast &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=128260\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-128260","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/128260","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128260"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/128260\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}