Target Shares Are Down on the Resignation of its CMO

Shares of Target Corporation (NYSE:TGT) are trading lower today on news the Michael Francis, EVP and CMO, has resigned.  Its press release on the matter provides little in the way of explanation.

The shares recently traded at $48.61, down $0.43, or 0.88%, on the day.  The shares have traded in a 52-week range of $45.28 to $60.97 and its market capitalization is $32.82 billion.  About the company: Target Corporation operates general merchandise discount stores in the United States.  The Company’s merchandising operations include general merchandise and food discount stores an a fully integrated online business.  Target also offers credit to qualified applicants through its branded proprietary credit cards.

Shares of its competitors are mixed:

  • Costco Wholesale Corp (NASDAQ:COST): The shares are trading at $82.83, up $0.70, or 0.85%, on the day.
  • Wal-Mart Stores, Inc. (NYSE:WMT): The shares are trading at $52.48, up $0.58, or 1.14%, on the day.
  • Dollar General Corp. (NYSE:DG): The shares are trading at $37.04, down $0.72, or 1.91%, on the day.

(Note: Selected financial data are sourced from Google Finance.  All data are assumed to be accurate.)

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