TGT Misses the Target With Dismal Q3
November 16 2022 - 07:17AM
TipRanks
Shares of Target Corp. (NYSE: TGT) slid in pre-market trading on
Wednesday after the retailer reported a big profit miss in the
third quarter. Target's adjusted earnings in Q3 declined 49.1%
year-over-year to $1.54 per share and missing analysts' estimates
of $2.16. However, the company reported revenues of $26.5 billion,
up 3.4% year-over-year beating Street estimates by $120 million.
Brian Cornell, Chairman, and CEO of Target stated, "In the
third quarter, our business delivered comparable sales growth of
2.7 percent, and we saw unit share gains across all of our core
merchandise categories.
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Target (NYSE:TGT)
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