Target Stock Sinks Nearly 25% on Earnings Miss, High Costs - The Wall Street Journal
shares tumbled after the retailer posted lower quarterly earnings and said it would absorb higher costs this year rather than raise its prices.
Sales at the Minneapolis-based retailer increased in the most recent quarter as shoppers spent more on food and groceries and even luggage as they prepared to travel again, but supply-chain costs and inflationary pressures cut into profits.Like Walmart Inc., its larger rival, Target reported quarterly earnings that missed Wall Street’s forecasts.
Customer Service.