Fast-Rising Inflation Halts Target's Momentum
Target (NYSE: TGT) reported first-quarter fiscal 2022 earnings before the markets opened on Wednesday, May 18. The results disappointed investors, and the stock was down as much as 27% on the day of the release. Target has been one of the prime beneficiaries of the pandemic.
It has gained the trust of millions of customers by operating effectively during difficult times, and revenue and profits have surged. That momentum came to a halt on Wednesday, though, when it reported lower-than-expected profits and lowered guidance for the rest of the year. Let's look closer at Target's Q1 figures.
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Source Fool.com
