Target Stock Is Crashing After a Big Earnings Miss. Here’s What Went Wrong.

Target stock was tanking after the retailer reported first-quarter adjusted earnings of $2.19 a share, well below analysts’ forecasts. It wasn’t just the past quarter that is causing Target stock, down nearly 22%, to tumble. The retailer also said for the second quarter it expects its operating income margin rate “will be in a wide range centered around first quarter’s operating margin rate of 5.3%.”The company said continues to expect low- to mid- single digit revenue growth in 2022.
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