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Target warns of a weak holiday season. Shares are tumbling

Por: CNN Business November 16, 2022

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New York CNN Business  —  Target’s profit plunged 52% in the third quarter and the retailer warned of a sluggish holiday. Target blamed inflation and a deteriorating economic outlook for its miserable quarter — and also lowered its outlook for the rest of the year. That sent shares down more than 12% in premarket trading. CEO Brian Cornell said that in recent weeks that “sales and profit trends softened meaningfully, with guests’... + full article



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