Shares of Best Buy Co. Inc. (BBY) dropped 2.8% in premarket trading Wednesday, after the consumer electronics retailer appeared to suffer from the fallout of Target Corp.'s (TGT)disappointing holiday-period sales ( ) performance. Target said earlier same-store sales during the November/December period rose 1.4%, "below our expectations," given softer-than-expected performance in electronics, toys and portion of home assortment. Also suffering collateral damage, shares of toy makers Hasbro Inc. (HAS) fell 2.2% and Mattel Inc. (MAT) shed 3.0%. Among Target competitors, shares of Walmart Inc. (WMT) declined 1.9% and Kohl's Corp. (KSS) slipped 0.9%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
January 15, 2020 08:07 ET (13:07 GMT)
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