Target reported a bigger-than-expected drop in comparable sales on Wednesday and offered a wide range of profit outcomes for its holiday quarter, as it cuts prices and makes investments to appeal to cash-strapped U.S. consumers.

Shares of the Minneapolis-based retailer were down slightly in morning trading. The stock has lost nearly 35% of its value so far this year.

The results mark the first full quarter since Target named longtime executive Michael Fiddelke as its new CEO in August to steer the business back to health. The retailer, which has reported three straight quarters of declining comparable sales, said it plans to invest about $1 billion more in 2026 in new stores, remodels and an improvement in its digital business.

On a post-earnings call, Fiddelke, who takes over the top

See Full Page