Why Did Target Stock Price Fell 13%?

Target Q 3 Results

Target reports Q3 EPS of  USD 1.54, that was USD 0.62 lesser than analyst estimated of USD 2.16. 

And the revenue for quarter was USD 26.5 billion compared to the consensus estimate of USD 26.39 billion.

The company stated that based mostly on softening gross sales and revenue developments that emerged late within the third quarter and continued into November,

Fiscal 2022 guidance:

the company believes it's prudent to plan for a variety of gross sales outcomes within the fourth quarter, centered around a low-single-digit decline in comparable gross sales, in step with these current developments. 

And the companyis now planning a variety for its fourth quarter working margin charge centered round 3%.