MINNEAPOLIS (WCCO) – Target’s holiday season sales failed to hit the mark.
Target announced Wednesday morning that sales for November and December were up just 1.4% from a year ago. That’s disappointing for the retailer as it had hoped for sales between 3% and 4%
The company’s biggest misses were with electronics and toys.
Target stock dropped $9 a share in extended trading Wednesday morning.
The company says it will not change their outlook as this quarter is on pace to be the 11th straight quarter with sales growth.