Target Lowers Forecast on Sales Slump, Canadian Losses

Target Corp., still struggling to rebound from last year’s hacker attack, cut its forecast for the year as slumping sales and a money-losing push into Canada take a toll on profit.

Target now expects full-year earnings of $3.10 to $3.30 a share, excluding some items, down from a previous forecast of as much as $3.90, according to a statement today. Analysts had predicted $3.44, the average estimate compiled by Bloomberg.