Benzinga | Sep 30, 2021 02:07PM EDT

Why Target Shares Are Falling

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 d?cor (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.