Feb 28, 2017

Target shares in freefall after disappointing holiday sales

Alan Diaz/AP

Target announced its fourth-quarter earnings Tuesday, posting a decline in same-store sales compared with the fourth quarter of 2015. Investors are bidding down the retailer's stock in pre-market trading, with shares falling more than 12%. The firm also predicted future revenue and earnings far below what analysts had been expecting.

Source: Money.net

Why it matters: It'syYet another sign of the retail industry overextended itself in recent years, and the toll that competition from e-commerce has taken on traditional bricks-and-mortar. Long a better performer on Wall Street than its rival Walmart, Target now trades at a relative discount.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

Global: Total confirmed cases as of 3:30 a.m. ET: 1,203,923 — Total deaths: 64,795 — Total recoveries: 247,273 — Map.
U.S.: Total confirmed cases as of 3:30 a.m. ET: 312,237 — Total deaths: 8,502 — Total recoveries: 14,997 — Map.
Public health latest: CDC launches national trackers and recommends face coverings in public. Federal government will cover costs of COVID-19 treatment for uninsured. The virus is hitting poor, minority communities harder and upending childbirth.
2020 latest: "We have no contingency plan," Trump said on the 2020 Republican National Convention. "We're having the convention at the end of August."
Business updates: Restaurants step up for health care workers. Employees are pressuring companies to provide protections during coronavirus.
Oil latest: Monday meeting among oil-producing countries to discuss supply curbs is reportedly being delayed amid tensions between Saudi Arabia and Russia.
Education update: Many college-age students won't get coronavirus relief checks.
1 🏀 thing: The WNBA postpones start of training camps and season.
What should I do? Pets, moving and personal health. Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk.
Other resources: CDC on how to avoid the virus, what to do if you get it.

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Keep ReadingUpdated 10 mins ago - Politics & Policy

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World coronavirus updates: Confirmed cases top 1.2 million

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens and confirmed plus presumptive cases from the CDC

The number of novel coronavirus cases surpassed 1.2 million worldwide Saturday night, as Spain overtook Italy as the country with the most infections outside the U.S.

The big picture: About half the planet's population is now on lockdown and the global death toll was nearing 64,800, by Sunday morning, per Johns Hopkins data.

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Rebecca Falconer, Orion Rummler, Marisa Fernandez

U.S. coronavirus updates: Death toll surpasses 8,500

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

Recorded deaths from the novel coronavirus surpassed 8,500 in the U.S. early Sunday, per Johns Hopkins data. The death toll in the U.S. has risen over 1,000 every day for the past four days, since April 1.

The big picture: President Trump said Saturday America's is facing its "toughest" time "between this week and next week." Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, said U.S. deaths are expected to continue to rise during this period.

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