Target slumps after Q3 results and guidance look weak

|About: Target Corporation (TGT)|By:, SA News Editor

Target (TGT) trades lower after getting poorer results in Canada than some analysts anticipated and setting the bar lower for Q4 in the U.S.

The retailer saw comparable store sales grow only 0.9% in the U.S. during the quarter.

Gross margin rate dropped 30 bps due to rate pressure in key categories.

TGT -2.9% premarket.