Friday 14 December 2018
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wn.com - 24 days ago

Target misses on profit, shares slide

MINNEAPOLIS (AP) — Target s ramped up investments online and in stores are bringing in shoppers, but they re bruising the bottom line right now. Company shares tumbled 10 percent before the opening bell Tuesday after Target missed profit expectations for the third quarter, the last look at the retailer s performance as it heads into the holiday shopping season. At the same time, revenue at stores opened at least a year rose 5.3 percent, its sixth consecutive quarter in that direction. And online sales soared 49 percent. In the previous quarter, Target racked up the strongest same-store sales growth in 13 years. The battle for customers has become rooted in convenience and to that end, Target...

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