Target Corp (NYSE:TGT) shares are trading lower Tuesday, possibly in sympathy with Walmart Inc (NYSE:WMT), which reported worse-than-expected earnings results and cut guidance.
Walmart said first-quarter revenue increased 2.4% year-over-year to $141.6 billion, which beat the $138.88-billion estimate, according to data from Benzinga Pro. However, the company reported quarterly adjusted earnings of $1.30 per share, which missed the estimate of $1.48 per share.
Walmart also cut its second-quarter earnings guidance from a low to mid single-digit range. The company said it now expects earnings to be "flat to up slightly."
Target is scheduled to report its first-quarter earnings results before the market opens on Wednesday.
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TGT Price Action: Target has traded between $184 and $268.98 over a 52-week period.
The stock was down 2.62% at $213.50 at time of publication.
Photo: courtesy of Target.
