Target Stock Sinks on Q1 Earnings Miss: What To Know

Target stock slumped after the retailer's earnings and revenue were hit by a tough consumer spending environment. Here's what you need to know.

The outside of a Target store in Manhattan on a rainy day
(Image credit: Spencer Platt/Getty Images)

Target (TGT) stock took a nosedive Wednesday after the discount retailer's first-quarter earnings came up short of expectations amid a tough consumer spending environment. 

In the three months ended May 4, Target's sales decreased 3.2% year-over-year to $24.5 billion, driven by weak sales in its discretionary categories. Its earnings per share (EPS) declined 1% from the year prior to $2.03.

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Sign up

To continue reading this article
please register for free

This is different from signing in to your print subscription

Why am I seeing this? Find out more here

Joey Solitro

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.