Target Stock Sinks on Q1 Earnings Miss: What To Know

Target (TGT) stock took a nosedive Wednesday after the discount retailer's first-quarter earnings came up short of expectations amid a tough consumer spending environment. In the three months ended May 4, Target's sales decreased 3.2% year-over-year to $24.5 billion, driven by weak sales in its discretionary categories. Its earnings per share (EPS) declined 1% from the year prior to $2.03."Our first-quarter financial performance was in line with our expectations on both the top and bottom line, tracking the ...