Retail Movers: Target Corporation (NYSE: TGT), The Gap Inc (NYSE: GPS)

  • 10 years ago
Target Corporation (NYSE: TGT) shares fell 1.74 percent to $62.27 in morning trading on Friday after the retailer announced stolen information in the recent mass data breach involved as many as 70 million customers. The company added sales since the breach have been weaker than expected.The Gap Inc. (NYSE: GPS) reported weaker-than-expected same-store sales for December, missing analyst’s expectations of a 1.5 percent increase. After the holiday quarter, Gap announced it expects to report per-share earnings for the full-year at the high end of its previous outlook range of $2.57 to $2.65 a share, below consensus estimates of $2.69.On Friday, shares of Gap edged up 0.84 percent to $39.75.U.S. stocks fluctuated in early trading on Friday after the jobs report for December came in below Wall Street expectations.The government reported 74,000 nonfarm payrolls last month, below analysts’ expectations. The unemployment rate declined to 6.7 percent last month from 7 percent the previous month.  The Dow Jones industrial average rose 35.38 points or 0.22 percent, to 16,480.14. The S&P 500 gained 4.31 points or 0.23 percent, to 1,842.44. The Nasdaq Composite added 14.367 points or 0.35 percent, to 4,170.561.

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