Shares of companies in the broader retail space, including Target Corporation (NYSE: TGT), are trading lower in sympathy with Bed Bath & Beyond (NASDAQ: BBBY), which fell following worse-than-expected second-quarter sales and third-quarter guidance below estimates.
Bed Bath & Beyond shares are trading lower after the company reported second-quarter EPS of $0.04, down from $0.50 year over year and worse-than-expected second-quarter sales results. The company also issued third-quarter EPS and sales guidance below estimates.
Target is a leading American general merchandise retailer, offering a variety of products across several categories, including beauty and household essentials (26% of fiscal 2020 sales), food and beverage (20%), home furnishings and décor (20%), hardlines (18%) and apparel and accessories (16%).
Target is trading lower by 2.7% at $229.61. Target has a 52-week high of $267.06 and a 52-week low of $150.80.
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