The Law Offices of Frank R. Cruz continues its investigation of Target Corporation ("Target" or the "Company") (NYSE: TGT) on behalf of investors concerning the Company's possible violations of federal securities laws.
If you are a shareholder who suffered a loss, click here to participate.
On May 18, 2022, Target announced its first quarter 2022 financial results in a press release. The Company also provided guidance, expecting second quarter 2022 "operating income margin rate [to] be in a wide range centered around first quarter's operating margin rate of 5.3 percent."
Just three weeks later, on June 7, 2022, Target revised its guidance, expecting the second quarter 2022 operating margin rate to "be in a range around 2%." The Company attributed the change to "a set of actions to right-size [Target's] inventory for the balance of the year[.]"
On this news, Target's stock fell $3.69, or 2.3%, to close at $155.98 per share on June 7, 2022, thereby injuring investors.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased Target securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220615006113/en/
SOURCE: Law Offices of Frank R. Cruz
The Law Offices of Frank R. Cruz, Los Angeles Frank R. Cruz, 310-914-5007 firstname.lastname@example.org www.frankcruzlaw.com