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May 18, 2022, 11:34 a.m. EDT

Target's stock plunge casts a pall on retail sector

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By Tomi Kilgore

The historic selloff in Target Corp's stock /zigman2/quotes/207799045/composite TGT -3.40% is casting a pall on the retail sector, as shares of 90 of the S&P 500's /zigman2/quotes/210599714/realtime SPX -2.01% 92 consumer discretionary and staples companies are trading lower. Target's stock was the weakest of the bunch, tumbling 24.7% toward an 18-month low, as well as the biggest one-day plunge since Black Monday (Oct. 19, 1987), after a hugely disappointing earnings report. The SPDR Consumer Staples Select Sector ETF /zigman2/quotes/200697959/composite XLP -1.34% slumped 4.7%, with all 32 components losing ground, while the SPDR Consumer Discretionary Select Sector ETF /zigman2/quotes/200844504/composite XLY -3.99% , of which Target is a component, also dropped 4.7% with 58 of 60 components falling. Among some of the more sympathetic losers, shares of fellow discount retailers Dollar Tree Inc. /zigman2/quotes/203712248/composite DLTR -2.27% tumbled 17.2% and Dollar General Corp. /zigman2/quotes/200691429/composite DG -1.29% slid 12.2%, while membership-based warehouse retailer Costco Wholesale Corp /zigman2/quotes/201191698/composite COST -2.73% sank 11.6%. Drug store chain and health care services company Walgreens Boots Alliance Inc.'s stock /zigman2/quotes/203410933/composite WBA -2.92% dropped 6.6%, and was the Dow Jones Industrial Average's /zigman2/quotes/210598065/realtime DJIA -1.56% biggest decliner. Walmart Inc.'s stock /zigman2/quotes/207374728/composite WMT -1.41% slumped 5.9%, after tumbling 11.4% on Tuesday on the back of disappointing earnings. The two retail gainers were shares of discount retailers TJX Companies Inc. /zigman2/quotes/203136811/composite TJX -3.90% , which rallied 9.1% after an earnings beat, and Ross Stores Inc. /zigman2/quotes/202639496/composite ROST -4.66% , which tacked on 2.6%.

/zigman2/quotes/207799045/composite
US : U.S.: NYSE
$ 144.52
-5.09 -3.40%
Volume: 4.13M
June 28, 2022 4:03p
P/E Ratio
11.98
Dividend Yield
2.99%
Market Cap
$69.37 billion
Rev. per Employee
$235,567
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/zigman2/quotes/210599714/realtime
US : S&P US
3,821.55
-78.56 -2.01%
Volume: 2.25B
June 28, 2022 5:33p
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/zigman2/quotes/200697959/composite
US : U.S.: NYSE Arca
$ 71.68
-0.97 -1.34%
Volume: 11.00M
June 28, 2022 4:00p
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/zigman2/quotes/200844504/composite
US : U.S.: NYSE Arca
$ 139.64
-5.81 -3.99%
Volume: 5.68M
June 28, 2022 4:00p
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/zigman2/quotes/203712248/composite
US : U.S.: Nasdaq
$ 153.57
-3.56 -2.27%
Volume: 1.65M
June 28, 2022 4:00p
P/E Ratio
23.39
Dividend Yield
N/A
Market Cap
$35.28 billion
Rev. per Employee
$125,003
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/zigman2/quotes/200691429/composite
US : U.S.: NYSE
$ 243.58
-3.18 -1.29%
Volume: 1.28M
June 28, 2022 4:03p
P/E Ratio
24.98
Dividend Yield
0.90%
Market Cap
$56.01 billion
Rev. per Employee
$209,941
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/zigman2/quotes/201191698/composite
US : U.S.: Nasdaq
$ 468.61
-13.14 -2.73%
Volume: 1.76M
June 28, 2022 4:00p
P/E Ratio
36.91
Dividend Yield
0.77%
Market Cap
$213.40 billion
Rev. per Employee
$680,309
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/zigman2/quotes/203410933/composite
US : U.S.: Nasdaq
$ 40.96
-1.23 -2.92%
Volume: 7.83M
June 28, 2022 4:00p
P/E Ratio
5.65
Dividend Yield
4.66%
Market Cap
$36.44 billion
Rev. per Employee
$420,663
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
30,946.99
-491.27 -1.56%
Volume: 353.77M
June 28, 2022 5:33p
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/zigman2/quotes/207374728/composite
US : U.S.: NYSE
$ 122.37
-1.75 -1.41%
Volume: 5.13M
June 28, 2022 4:00p
P/E Ratio
26.29
Dividend Yield
1.83%
Market Cap
$340.23 billion
Rev. per Employee
$249,023
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/zigman2/quotes/203136811/composite
US : U.S.: NYSE
$ 57.48
-2.33 -3.90%
Volume: 5.85M
June 28, 2022 4:04p
P/E Ratio
20.83
Dividend Yield
2.05%
Market Cap
$70.08 billion
Rev. per Employee
$142,794
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/zigman2/quotes/202639496/composite
US : U.S.: Nasdaq
$ 72.78
-3.56 -4.66%
Volume: 3.61M
June 28, 2022 4:00p
P/E Ratio
16.18
Dividend Yield
1.70%
Market Cap
$26.71 billion
Rev. per Employee
$189,162
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