Wesfarmers shares off Target

 In Australia, NewZealand, Target

Wesfarmers has issued a profit warning for Target, predicting the unit’s full-year earnings may fall as much as 43 per cent.
Target’s sales perfomance in the second half had been disappointing, Wesfarmers said.
Target’s bottom line in the 2012-13 year would be hit by several factors, including weak sales during the second half of the year, exacerbated by a late start to the winter season, it said.  Sydney Morning Herald – Read more…

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