Reuters alone with Target profit warning; shares fall 4 pct

Reuters was unmatched by Bloomberg and Dow Jones on November 17 in reporting Target’s earnings warning. Target’s stock ended on its lows, more than 4 percent down. The No 2 U.S. discount retailer had earlier reported a nearly 24 percent drop in profit as an economic downturn curtailed shoppers` ability to splurge on its trendy wares. On the conference call, CFO Doug Scovanner said the retailer could report earnings of 90 cents to $1 per share — way below analyst expectations of $1.17 per share. Our headlines were unmatched by competitors.

Article Tags
Type: Reuters Best
Sectors: Equities
Regions: Americas
Countries: US
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