From Investing.com: 2024-11-20 06:43:07

Target Corporation shares plummeted over 21% after reporting third-quarter earnings below analyst expectations. Adjusted EPS was $1.85, missing estimates of $2.30, with revenue at $25.67 billion. Comparable sales rose 0.3% YoY. Full-year EPS guidance of $8.30-$8.90 fell short. CEO Brian Cornell cited challenges and cost pressures in a volatile operating environment. Gross margin rate declined to 27.2%. Target projects flat comparable sales and adjusted EPS of $1.85-$2.45 for the fourth quarter. Despite the disappointing results, Cornell remains confident in the company’s long-term prospects.



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