Target Shares Drop as Weak Consumer Demand Hurts Sales: Chart

More bad news for the U.S.’s biggest retailers. Shares of Target Corp. plunged the most in more than seven years after quarterly sales missed analysts’ estimates and the discount chain delivered a disappointing forecast, renewing concerns about sluggish consumer demand. The company is the biggest laggard in the benchmark S&P 500 Index and dragged down shares of Costco Wholesale Corp. and Wal-Mart Stores Inc., which reports its earnings Thursday.

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