Seeking Alpha

Target slumps after Q3 results and guidance look weak

  • 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.
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