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Stock impact report

Target warns February sales were soft, adding to concerns about consumer health [MSNBC.com]

Warby Parker Inc. (WRBY) 
Company Research Source: MSNBC.com
TargetThe first three months of the year tend to be slow for retailers because consumers typically pull back after the holiday shopping season. But Target's tepid guidance comes afterWalmartE.l.f. Beautyconcerns last monthslower than usualCoupling those weak forecasts with a sharper-than-expecteddecline in consumer spendingbiggest drop in consumer confidencewarning signPlenty of Target's troubleshave been self-inflictedIn a statement, Target's finance chief Jim Lee said February sales were "soft" and "declining consumer confidence" hurt discretionary sales. He also blamed "uncharacteristically cold weather," saying it affected apparel sales."We expect to see a moderation in this trend as apparel sales respond to warmer weather around the country, and consumers turn to Target for upcoming seasonal moments such as the Easter holiday," said Lee. "We will continue to monitor these trends and will remain appropriately cautious with our expectations for the year ahead."Target CEO Brian Corn Show less Read more
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