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Reuters alone with Target saying early November sales disappointing

Reuters was alone on Nov.17 in sending headlines from Target’s earnings conference call that its sales results in early November were disappointing. The comments came after Target reported a higher-than-expected third-quarter profit, but its shares had remained fairly unchanged ahead of its conference call as investors awaited more details on its November sales. The shares quickly fell more than 3 percent after CEO Gregg Steinhafel said early November results were creating sales pressures. The conservative tone of the call pressured retail shares and the wider market after CFO Doug Scovanner said sell-side analysts are more optimistic on the retail sector than is warranted.

Market Impact

Target shares quickly fell more than 3 percent

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