Target Falls Most in S&P 500 as Wal-Mart Price War Hurts Margins
- Company’s higher forecast still misses analysts’ estimates
- Exclusive brands will help bolster margins, CEO Cornell says
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Target Corp.’s price war with Wal-Mart Stores Inc. is taking a toll.
Target posted a disappointing outlook on Wednesday, in part because of investments made to lower prices, boost wages and develop new brands. That sent the stock down as much as 10 percent, making it the biggest decliner in the S&P 500 Index.