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Department store giant sinks on Wall Street

» Published: 20 November 2024

Department store giant sinks on Wall Street
Photo: Mark Lennihan/AP/TT

The New York stock exchange was weighed down on Wednesday by a sharp fall in the department store chain Target. The share price plummeted 21.4 percent after the company reported a quarterly report where neither sales nor profit met analysts' expectations. Moreover, the forecast for Christmas sales was worse than expected.

The focus was also on the giant Nvidia, which presented its interim results after the stock market closed. On Tuesday, the semiconductor giant's share price surged, but now it lost 0.8 percent.

On the other hand, the home furnishings company Williams-Sonoma saw a sharp rise, with its results exceeding forecasts. The share price rose 27.5 percent.

The broad S&P 500 index closed unchanged, the tech-heavy Nasdaq composite index fell 0.1 percent, and the Dow Jones industrial index rose 0.3 percent.

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By TTThis article has been altered and translated by Sweden Herald

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