Target Reports Profit Plunge, Warns of Weak Holiday Sales

The bullseye logo on a sign outside the Target store in Quincy, Mass., on Feb. 28, 2022. Charles Krupa/AP Photo

Target’s latest earnings report revealed a massive plunge in profits, as the retailer warned of weak holiday sales.

The retail chain reported on Nov. 16, that profits declined 49.3 percent in its fiscal third quarter, after struggling with unwanted inventory and fears of slow sales into the holidays.