Target Stock Plunge Wipes $25 Billion As Inflation Squeezes Customers And Sends Costs Soaring—Spurring ‘Dramatic’ Earnings Shortfall

Updated May 18, 2022, 01:04pm EDT Topline Shares of Target collapsed Wednesday after the brick-and-mortar retailer posted disappointing first-quarter earnings spurred by unexpectedly high costs that offset rising sales—spelling more trouble for the broader retail industry just one day after competitor Walmart posted its own stock-market plunge. Key Facts Target stock plunged as much as…

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