Target reported that sales for the first quarter of 2022 rose by 4% over the first quarter of 2021 – but profit fell by 52% because of inflation, higher costs, supply chain disruptions, and increases in hourly pay and benefits. Shares of Target closed today at 161.73, a drop of 53.55 (24.87%).
Target shares sink 25% after company says high costs, inventory woes hit profits
https://www.cnbc.com/2022/05/18/targ...-earnings.html