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Benzinga
Benzinga
Business
Adam Eckert

'We Faced Unexpectedly High Costs': Why Target Shares Are Falling Today

Target Target Corp

Target Corp (NYSE:TGT) shares are trading significantly lower Wednesday after the company announced worse-than-expected earnings results and reported an unexpected drop in operating income margin rate.

Target said first-quarter revenue increased 4% year-over-year to $25.17 billion, which beat the $24.37-billion estimate, according to data from Benzinga Pro. The company reported quarterly earnings of $2.19 per share, which came in below the estimate of $3.07 per share. 

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