Target Shares Fall on Downbeat Forecast
Shares of Target were taking a hit Wednesday after providing a downbeat forecast for the second half of the year.
Shares of Target (TGT) - Get Report were taking a hit Wednesday after providing a downbeat forecast for the second half of the year. Earnings of $1.23 per share beat estimates by 10 cents. Revenue of $16.17 billion was relatively in line with analysts' predictions. The retail giant slashed its profit outlook and same-store sales amid stiffer competition. Target now expects full-year earnings to be in the range of $4.80 and $5.20, which is lower than the previous forecast of $5.20 to $5.40.
