Target Hit With Really Bad News Just Ahead of Holiday Rush

In retail, these few months at the end of the year are crucial to the bottom line of the business.

This is the time of year that shoppers have saved up for, and they're ready to splurge and get everything on their Christmas list.

Target stock shares took a leap off of a ledge on Thursday (Nov. 21) as Target dished out its quarterly earnings report, which was way off from projections.

Target stock fell 19 percent in one day after the report. That's a lot for any company's stock to go down, but it is especially concerning to a major retailer like Target, and just ahead of the major holiday shopping rush.

Target tried, though; nobody can say that they didn't. They discounted more than 2,000 items in their stores to try to combat low sales, but that effort seems to have fallen flat.

Here is where the news goes from bad to worse for Target. On that same quarterly earnings call, Target announced that they expect to not make any profit over the fourth quarter and will be flat, meaning no loss or gain.

Brian Cornell, chair and chief executive officer of Target Corporation, highlighted some strengths in a statement about the earnings call, including gains in traffic, beauty and frequency categories, as well as digital channel growth.

"At the same time, we encountered some unique challenges and cost pressures that impacted our bottom-line performance," he added.

"Looking ahead, our team is energized and ready to deliver the unique combination of newness and value that holiday shoppers can only find at Target, and we remain confident in the underlying strength and fundamentals of our business, and our ability to deliver on our longer-term financial goals."

While Target says there is a deceleration in demand, Walmart is showing off a 60 percent stock increase for the year, while Target is trying to cover its 19 percent loss.

23 Country Stars With Their Own Bars + Restaurants

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Let's take a look at the country star food and entertainment venues that have opened over the years.

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We've cut it down to 55 of country music's best duets over the past several decades, as you'll see here. Find the best Dolly Parton, Reba McEntire and Carrie Underwood duets, plus modern pairings from artists like Lainey Wilson, Eric Church, Post Malone and more.

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