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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 -1.21% is casting a pall on the retail sector, as shares of 90 of the S&P 500's /zigman2/quotes/210599714/realtime SPX -0.25% 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 +0.64% slumped 4.7%, with all 32 components losing ground, while the SPDR Consumer Discretionary Select Sector ETF /zigman2/quotes/200844504/composite XLY -0.47% , 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 +1.34% tumbled 17.2% and Dollar General Corp. /zigman2/quotes/200691429/composite DG +1.37% slid 12.2%, while membership-based warehouse retailer Costco Wholesale Corp /zigman2/quotes/201191698/composite COST +0.42% sank 11.6%. Drug store chain and health care services company Walgreens Boots Alliance Inc.'s stock /zigman2/quotes/203410933/composite WBA -0.76% dropped 6.6%, and was the Dow Jones Industrial Average's /zigman2/quotes/210598065/realtime DJIA +0.07% biggest decliner. Walmart Inc.'s stock /zigman2/quotes/207374728/composite WMT -0.08% 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 -0.63% , which rallied 9.1% after an earnings beat, and Ross Stores Inc. /zigman2/quotes/202639496/composite ROST -1.29% , which tacked on 2.6%.

/zigman2/quotes/207799045/composite
US : U.S.: NYSE
$ 142.77
-1.75 -1.21%
Volume: 1.40M
June 29, 2022 11:30a
P/E Ratio
11.88
Dividend Yield
3.01%
Market Cap
$67.01 billion
Rev. per Employee
$235,567
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/zigman2/quotes/210599714/realtime
US : S&P US
3,811.86
-9.69 -0.25%
Volume: 743.67M
June 29, 2022 11:30a
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/zigman2/quotes/200697959/composite
US : U.S.: NYSE Arca
$ 72.14
+0.46 +0.64%
Volume: 2.88M
June 29, 2022 11:30a
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/zigman2/quotes/200844504/composite
US : U.S.: NYSE Arca
$ 138.99
-0.65 -0.47%
Volume: 2.18M
June 29, 2022 11:30a
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/zigman2/quotes/203712248/composite
US : U.S.: Nasdaq
$ 155.64
+2.07 +1.34%
Volume: 395,679
June 29, 2022 11:30a
P/E Ratio
23.63
Dividend Yield
N/A
Market Cap
$34.49 billion
Rev. per Employee
$125,003
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/zigman2/quotes/200691429/composite
US : U.S.: NYSE
$ 246.92
+3.34 +1.37%
Volume: 305,899
June 29, 2022 11:30a
P/E Ratio
25.32
Dividend Yield
0.89%
Market Cap
$55.29 billion
Rev. per Employee
$209,941
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/zigman2/quotes/201191698/composite
US : U.S.: Nasdaq
$ 470.57
+1.96 +0.42%
Volume: 396,982
June 29, 2022 11:29a
P/E Ratio
37.08
Dividend Yield
0.76%
Market Cap
$207.58 billion
Rev. per Employee
$680,309
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/zigman2/quotes/203410933/composite
US : U.S.: Nasdaq
$ 40.65
-0.31 -0.76%
Volume: 1.53M
June 29, 2022 11:30a
P/E Ratio
5.61
Dividend Yield
4.69%
Market Cap
$35.38 billion
Rev. per Employee
$420,663
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
30,969.72
+22.73 +0.07%
Volume: 94.51M
June 29, 2022 11:30a
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/zigman2/quotes/207374728/composite
US : U.S.: NYSE
$ 122.27
-0.10 -0.08%
Volume: 1.71M
June 29, 2022 11:30a
P/E Ratio
26.34
Dividend Yield
1.83%
Market Cap
$335.43 billion
Rev. per Employee
$249,023
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/zigman2/quotes/203136811/composite
US : U.S.: NYSE
$ 57.12
-0.36 -0.63%
Volume: 868,398
June 29, 2022 11:30a
P/E Ratio
20.77
Dividend Yield
2.06%
Market Cap
$67.35 billion
Rev. per Employee
$142,794
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/zigman2/quotes/202639496/composite
US : U.S.: Nasdaq
$ 71.84
-0.94 -1.29%
Volume: 664,975
June 29, 2022 11:30a
P/E Ratio
15.98
Dividend Yield
1.73%
Market Cap
$25.47 billion
Rev. per Employee
$189,162
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