Target earnings report sends stock plummeting; lackluster holiday spending projected [USA TODAY]
S&P Global Inc. (SPGI)
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Source: USA TODAY
Shoppers didn't spend as much on apparel and other discretionary products such as furniture, appliances and electronics during the three-month period ending Nov. 2. However, sales of beauty products were up 6%. Target also forecasts flat comparable sales during the current fourth quarter, which includes the holiday shopping season – a troublesome sign for the retail industry as a whole. During the third quarter, Target reported an increase in comparable sales of 0.3%, compared to a year ago, but that fell short of the average analyst estimate compiled by Bloomberg Sales at comparable stores fell 1.9%, while digital sales increased 10.8% during the quarter, the company said. It's a forecast that pales compared with Walmart's expected increase of 4.8%-to-5.1% in sales in the current quarter including the holiday shopping season, which the retailer announced Tuesday. Walmart earnings: Retailer projects fruitful holiday shopping season, stock jumps again "Consumers continue t
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SPGI
Earnings
- 10/25/24 - Beat
SPGI
Sec Filings
- 11/20/24 - Form 4
- 11/15/24 - Form 4
- 11/7/24 - Form 4
- SPGI's page on the SEC website