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Breaking: Target Stock Falls Nearly 9% on Weak Holiday Sales

Investing.com

By Geoffrey Smith

Investing.com -- Target (NYSE:TGT) shares fell nearly 9% in premarket trading after the company said holiday-period sales had risen only 1.4%, less than it had forecast. That was down from a 5.7% increase last year.

The company said toy sales were essentially flat, while electronics also disappointed. Beauty products and clothing performed more strongly.

Despite the disappointment, Target (NYSE:TGT) reiterated its fourth-quarter earnings guidance.

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