Consumer Cos Drop After Target Earnings - Consumer Roundup

Dow Jones11-21

Consumer companies fell after weak earnings from one major discount chain.

Target shares fell by more than 20% in early trading after the retailer posted disappointing quarterly results and lowered its profit and sales goals for the year, lagging larger competitor Walmart, which reported surprisingly strong earnings.

TJX forecast fourth-quarter earnings growth shy of some Wall Street expectation. A high-end purveyor of homeware fared better.

Williams-Sonoma shares rallied after the San Francisco furniture purveyor boosted its 2024 growth projection.

Homebuyers are gaining leverage in negotiations across the nation as competition eased in October due to persistently high mortgage rates, according to real-estate Web site Zillow.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

November 20, 2024 17:12 ET (22:12 GMT)

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