From Yahoo Finance: 2025-05-21 10:40:00

High-income U.S. consumers are cutting back on spending, with mortgage applications decreasing. Walmart is seeing grocery gains from wealthy households looking for deals. Target reported adjusted earnings per share falling short of expectations, with comparable sales down and operating margin compression. The retailer’s success reflects the economic mood of its core American shopper. Target’s more discretionary-skewed basket is suffering as recession worries persist. The retailer is responding to the challenging environment with an internal reorg. Target stock is down almost 30% year to date, with guidance for a low single-digit sales decline. Investors are bracing for more pain ahead.



Read more at Yahoo Finance: Target just sent up a giant red flag about the U.S. consumer