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Target's holiday-quarter profit forecast disappoints, shares dip

Reuters 

By Richa Naidu and Sruthi Ramakrishnan(Reuters) - Target Corp issued a disappointing profit forecast for the key holiday quarter as it continues to depend on price cuts to drive traffic to its stores and online, sending its shares down 4 percent in premarket trading.The Minneapolis-based retailer forecast adjusted earnings of $1.05 to $1.25 per share for the quarter ending January 2018, considerably below the average analyst estimate of $1.24.Target said it expected same-store sales in the year-end holiday quarter to remain flat or increase by up to 2 percent. The company has slashed prices ...

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First Published: Wed, November 15 2017. 20:18 IST
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