Wednesday, November 15, 2017

Target's conservative profit outlook for holidays sends shares tumbling

itempropTarget executives are full of confidence heading into the holiday season, but investors showed more concern Wednesday about how the retailer’s lowered prices, investments to boost employee wages, and the higher costs to fulfill digital orders will continue to take a toll on its profits.

The Minneapolis-based retailer forecast comparable sales during the holiday season to be flat to up 2 percent. Its profit guidance also disappointed investors as it showed that the investments Target is making would continue to heavily weigh on the bottom line.. . . more

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