Target forecasts muted holiday-quarter sales as budget-focused shoppers seek value
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Target has forecasted lower-than-expected holiday-quarter sales and profits, missing third-quarter estimates. This is due to budget-conscious consumers opting for low-priced essentials at competitors like Walmart.
November 20, 2024 | 12:00 pm
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Target's forecast for the holiday-quarter sales and profits is below Wall Street expectations, following a miss in third-quarter estimates. This is attributed to consumers prioritizing low-priced essentials at competitors like Walmart.
Target's lower-than-expected sales forecast for the holiday quarter, combined with a miss in Q3 estimates, suggests a negative short-term impact on its stock price. The shift of budget-conscious consumers to competitors like Walmart indicates potential revenue challenges.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100