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Target struggles in the third quarter and offers tempered outlook for the holidays

  • Target predicts a weak holiday shopping season, forecasting flat sales and lowering its profit outlook.
  • Target's shares dropped as much as 20% during pre-market trading, reflecting concerns in the retail industry.
  • Higher prices have affected Target's middle-class customers, who are shifting spending to essentials rather than nonessential goods.
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56% Center
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