Target Stock Sinks 20% on Earnings Miss, High Costs

Like many Americans coping with increased fuel costs, Target is being harm by bigger-than-expected gasoline and freight prices this 12 months.

Sales on the Minneapolis-based retailer elevated in the newest quarter as customers spent extra on meals and groceries and even baggage as they ready to journey once more, however supply-chain prices and inflationary pressures lower into income. Like Walmart Inc., its larger rival, Target reported quarterly earnings that missed Wall Street’s forecasts.