Target shares tumbled 20% Wednesday morning following the release of the retailer's third-quarter earnings report, as it missed estimates for sales and profit.

The company announced profits that fell short of forecasts by 20%, its widest miss in two years. Revenues, meanwhile, came in under expectations for the first time in more than a year. Target's stock, as a result, fell more than 21% Wednesday.

Target’s stock set to suffer worst day in more than two years after profit, revenue, comparable sales and the outlook were all below expectations.

Target is set to report third-quarter results before the opening bell Wednesday, with analysts expecting narrowly rising revenue and profit as markets look for insight on consumer spending ahead of the holiday season.

The company’s decision to pull forward holiday shipments in anticipation of the East Coast strikes came at a cost, management says.

Despite cutting costs on thousands of products and starting holiday sales early, it didn't see a large uptick in customers.

Key Takeaways Walmart's shares hit a new record high following its earnings report yesterday, but Target's fell to their lowest point in a year following its results Wednesday.Target's sales and profits fell short of estimates,

Target stock is down big after the retailer missed expectations for its third quarter and slashed its full-year outlook. Here's what Wall Street is saying.

Target’s (TGT) price cuts and early holiday promotions aren’t delivering the expected results. Target stock plummeted by more than 16% in pre-market trading on Wednesday after it reported disappointing third-quarter earnings.

Target (NYSE:TGT) posted its largest earnings miss in two years, leading to a significant cut in its full-year guidance and causing shares to plummet nearly 17 per cent ・Target now anticipates full-year adjusted earnings per share to range from US$8.