Wednesday, May 23, 2018

Target reaffirms 2018 outlook as it makes online push

Target Corp shares pared losses to trade down 5 percent on Wednesday as investors weighed a lower-than-expected quarterly profit against the retailer’s unchanged full-year outlook.

Price cuts and ongoing investments to ward off competition from Inc and brick-and-mortar rivals continued to hurt profitability in the first quarter even as comparable sales beat estimates and online sales accelerated from a year earlier.. . . more