By  on June 12, 2013

DENVER — Protests over Target Corp.’s handling of its acquisition of Zellers Inc. properties in Canada dimmed the mood of the U.S. discounter’s annual shareholder meeting Wednesday.

The Minneapolis-based retailer is guarded about business for the near term after slashing its second-quarter outlook. Speaking to shareholders inside a new, but bare, store location at 7777 East Hampden Avenue that will be unveiled next month, Gregg Steinhafel, chairman, president and chief executive officer, said, “We have a cautious view for the near term. First-quarter sales [of $498 million] fell short of our expectations.”

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