Thursday, January 19, 2017

Target shares drop 6 percent after it reveals the holiday season was rough

itempropThe second-half rally that Target Corp. executives hoped for did not materialize during the holidays, as department stores and other traditional retailers continued to see online retailers such as Amazon.com eat away at their business.

The Minneapolis-based retailer said Wednesday that holiday sales were weaker than expected, leading the company to lower its sales and profit guidance for the fourth quarter.. . . more

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