Target shares sink more than 20% after company says high costs, inventory woes hit profits

Target shares sink more than 20% after company says high costs, inventory woes hit profits

Target on Wednesday reported quarterly earnings that fell far short of Wall Street’s expectations, as the retailer coped with pricey freight costs, higher markdowns and lower-than-expected sales of discretionary items from TVs to bicycles. Shares fell about 22% in premarket trading. Here’s what Target reported for the fiscal first quarter ended April 30, compared with …

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