Walmart hits new highs and Target dives after earnings as rivals diverge even more
Walmart(WMT) CNBC·2024-11-21 05:07
Target's stock tumbled to a 52-week low on Wednesday, a day after Walmart shares soared to an all-time high — as the rival retailers' earnings reports again underscored how their performance has diverged.Target posted its biggest earnings miss in two years and cut its forecast. The company spoke about a "deceleration in discretionary demand" and blamed higher costs from rushing to move inventory ahead of the short-lived port strike in October.On the company's earnings call, CEO Brian Cornell described U.S. ...