NEW YORK — Sometimes solid sales and earnings growth are no match for high expectations.
Target Corp. learned that the hard way Thursday when its shares continued to tumble after the company said second-quarter profits just missed analysts’ expectations. In a huge surge of trading where average volume more than tripled, Target’s stock fell 5.6 percent, or $2.24, to settle at $37.70 on the New York Stock Exchange. On Friday, Target shares regained a fraction of that, moving up 19 cents, or 0.5 percent, to close at $37.89, but that was still well below the 52-week high of $40.33 it hit in trading on Wednesday.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"