Target Misses Q3 Earnings & Revenue, Cuts Full-Year Profit Outlook Amid Price Cuts to Boost Sales 📉

Target Corporation reported weaker-than-expected earnings and revenue for the third quarter, marking its largest earnings miss in two years. The retailer also revised its full-year profit guidance downward, citing challenges in discretionary spending and higher supply-chain costs. Target forecasts flat comparable sales for the fourth quarter, encompassing online sales and stores open for at least thirteen months. Customer traffic increased, boosted by strong digital sales growth, but same-store sales experienced a decline. Target lowered prices on 10,000 items this year but struggled to attract steady traffic, particularly in discretionary categories.