Target Shares Tumble on Earnings Miss

Target TGT -0.36%decrease; red down pointing triangle shares fell nearly 20% in premarket trading after the retailer posted disappointing quarterly results and lowered its profit and sales goals for the year.

Profit shrank and sales were flat in the latest quarter. The results stood in contrast to discount chains such as Walmart and Costco, which reported strong consumer demand and increased revenue for the period.

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