Target’s Black Friday bargain hunters likely flocked to Walmart

Retailers kicked off the Black Friday weekend excited to take advantage of reportedly robust consumer spending… but recent earnings releases from some big-box stores revealed diverging fortunes, showing that shoppers are getting pickier about what they buy and where from. 

Walmart stood out as the clear winner of retail America, beating analysts’ estimates this quarter with a 5.3% bump in comparable sales. Meanwhile, Target’s comparable sales looked less healthy, at just 0.3% — the 10th straight quarter that comparable sales at “tar-zhay” have lagged behind Walmart. Target shares slumped more than 20% on the news, while Walmart stock hit a record high in the wake of its more optimistic report.

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