Target is reporting comparable-store sales that are well below last year’s, joining a growing list of retailers with meager performances during the critical holiday shopping season.
Target said Wednesday that it experienced weaker-than-expected sales of electronics, toys, and home goods. Those sales climbed 1.4% in the November-December period, compared with a very strong 5.7% increase a year earlier.
Digital sales rose 19%, also down from last year’s jump of 29%.
Shares of Target fell almost 7% at the opening bell.