Soft Holiday Sales On The Cards? Target’s Q4 Forecast Says So

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Target Corporation (NYSE: TGT) shares are lower after the retailer released its third quarter results. The negative sentiment toward the stock stemmed from its muted fourth quarter guidance.

The big-box retailer, however, reported better-than-expected sales, earnings and comps for the third quarter and also bumped up its full year earnings per share guidance.

The results are a proof that the company’s $7 billion turnaround plan announced in February is bearing fruit, as it attempts to ward off competitive threat from peer Wal-Mart Stores Inc (NYSE: WMT) and online retail behemoth

Full story available on Benzinga.com