Target Shares Take a Nosedive After Earnings Miss

The company reported its earnings results today, and with missed earnings targets, the company blamed a number of factors. Target cited investments in its online business, higher wages in a tight labor market and price cuts for its earnings miss.

In response to Investors' understandable disappointment with Target's latest earnings report, CEO Brian Cornell explained that the company's commitment to boost growth “involves a commitment of resources, which explains why I’ve already used the word investment five times in these remarks.”