Comparable stores sales at Target fell well below the previous year, joining a growing list of retailers reporting meagre performances during the critical holiday shopping season.
Target said Wednesday that it experienced weaker-than-expected sales of electronics, toys and home goods. Comparable sales climbed 1.4% in the November-December period, compared with a 5.7% increase a year earlier.
Digital sales rose 19%, also down from last year’s jump of 29%.
Shares of Target are down 7% before the opening bell.
The Associated Press