Target shares take a beating after investments take a toll on margins [MarketWatch]
Walmart Inc. (WMT)
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Source: MarketWatch
Target shares take a beating after investments take a toll on margins Target Corp. shares tumbled 10.4% in Tuesday trading as major investments in areas like technology and fulfillment took a toll on margins. Target TGT, -10.64% reported a margin decline to 28.7% during the third quarter, after margins of 29.6% last year. The company said supply chain costs owing to digital fulfillment and other expenses related to holiday inventory are the cause. Target Chief Executive Brian Cornell, at one point during his earnings call commentary, highlighted his repeated use of the word “investment.” “Now we’ve been clear that all of our efforts to grow and transform Target involve a commitment of resources which explains why I’ve already used the word investment five times in these remarks,” he said, according to a FactSet transcript. Read: Red Tuesday for retailers, as Target’s stock suffers worst stretch since the financial crisis Chief Financial Officer Cathy Smith also commented on th
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