What Target Tells Us About Walmart
The woes of Target hold a message for anyone who thinks that Walmart will raise its prices in reaction to tariffs President-elect Donald Trump is likely to raise on imports from China.
The message: it’s not happening.
Target’s shares plunged more than 21 percent on Wednesday after the company unveiled quarterly results that disappointed investors, the biggest drop since the pandemic era plunge of May 2022. Comparable store sales grew by a measly 0.3 percent, far less than the 1.4 percent analysts had forecast. The company’s fiscal year earnings forecast came down to $8.30 to $8.90 a share from the previous range of nine dollars to $9.70 a share. Wall Street had been expecting $9.56 a share
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