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

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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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