An unexpected and potentially ominous pullback in customer spending ahead of the holiday shopping season pushed third quarter profits at Minnesota-based Target down 52% after it was forced to slash prices for Americans who are feeling the squeeze of inflation.
CEO Brian Cornell says sales weakened significantly in the weeks leading up to October 29, the end of the most recent quarter, with more customers refusing to pay full price and waiting for sales.
That trend pushed quarterly profit far below the expectations of both Target, and Wall Street.
The company’s stock tumbled 14% before the opening bell today (Wed) and other big retailers are being dragged down as well.
.
.
.
.
AP
Valley Senior Living on Columbia in Grand Forks Among The Best in North Dakota
(File image) (KNOX) - Valley Senior Living on Columbia has been recognized as a Best Nursing Home for 2026 by U.S. News & World Report. This ranking places Valley on Columbia as one of five nursing homes in North Dakota to receive this designatio...
Dec 14, 2025
UND Partners With Space And Defense Supplier Voyager Technologies
North Dakota U.S. Sen. Kevin Cramer holds up an agreement between Voyager Technologies and UND, along with Matt Kuta, president and co-founder of Voyager (left), and UND President Andy Armacost. Contributed photo via UND Today. (By Joe Banish. UND To...
Dec 14, 2025
Grand Forks Business Leaves with Unpaid Debt to City
(KNOX) - A Grand Forks tech company that owes the city thousands of dollars in unpaid rent and loans is leaving. Thread, previously known as Airtonomy, is leaving the HIVE business incubator after roughly five years. Thrive owes at least $4000 in unp...
Dec 11, 2025
UND Faculty And Staff Town Hall is January 15th
(UND archival image via UND Today) (By Connor Murphy. UND Today ) - A virtual Town Hall for UND staff and faculty will be hosted by President Armacost and University administrators on Thursday, Jan. 15, to lead off the spring semester. Town Halls are...
10h ago
FOLLOW US FOR INSTANT UPDATES!
