Target shares tank as inflation-wracked shoppers flee for deals
Target on Wednesday reported much lower-than-expected profits and sales and cut its full-year forecast, sending its stock price down more than 20% as inflation-stricken customers fled to rivals such as Walmart for lower-priced essentials. It plummeted. The Minneapolis-based company reported a 20% loss in earnings, with earnings of $1.85 per share, below expectations of $2.30. […]