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Excerpt from uk.finance.yahoo.com
Target (TGT) missed the earnings mark in the first quarter.
Blame inflation-battered US households, its execs say.
The “biggest challenges” Target is hearing about from its shoppers are “inflation in food and household essentials,” chairman and CEO Brian Cornell said on a call with reporters detailing first quarter results.
Cornell added that inflation is putting a “strain on the consumer wallet.”
Target shares fell 7.97% by the close of trading Wednesday on the heels of the results.
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