By Geoffrey Smith
Investing.com -- Target (NYSE:TGT) shares fell nearly 9% in premarket trading after the company said holiday-period sales had risen only 1.4%, less than it had forecast. That was down from a 5.7% increase last year.
The company said toy sales were essentially flat, while electronics also disappointed. Beauty products and clothing performed more strongly.
Despite the disappointment, Target (NYSE:TGT) reiterated its fourth-quarter earnings guidance.