Target’s third-quarter profit tumbled as the retailer struggles to lure shoppers that are being pressed by stubbornly high inflation and grappling with other

The Minneapolis company said Wednesday that it expects its sales slump to extend through the critical holiday shopping season. The company also announced that it's planning to invest another billion dollars next year to remodel stores and build new ones, increasing the total cost for the makeover to $5 billion.

Investors have punished Target’s stock recently, sending it down 43 percent over the past year. Shares edged lower before the opening bell.

Turning around the 19 percent profit slide in the most recent quarter is the latest challenge to incoming CEO Michael Fiddelke, a 20-year company veteran who is replacing CEO Brian Corne

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