NEW YORK (Dow Jones/AP) — Target Corp. stock fell Tuesday after the discounter said it expects November same-store sales growth to lag behind its prior estimate.
Shares of Target fell $4.13, or 7.1 percent, to close at $54.30 on the New York Stock Exchange.
In a recorded sales update late Monday, the Minneapolis-based company said it expects sales in stores open a year or more — a key indicator of retail performance — to fall below its earlier projection of a 4 percent to 6 percent increase for the period from Oct. 30 to Nov. 26.