Shares of Best Buy Co. Inc. BBY, -1.67% dropped 2.8% in premarket trading Wednesday, after the consumer electronics retailer appeared to suffer from the fallout of Target Corp.'s TGT, -6.12% disappointing holiday-period sales performance. Target said earlier same-store sales during the November/December period rose 1.4%, "below our expectations," given softer-than-expected performance in electronics, toys and portion of home assortment. Also suffering collateral damage, shares of toy makers Hasbro Inc. HAS, -3.87% fell 2.2% and Mattel Inc. MAT, -6.27% shed 3.0%. Among Target competitors, shares of Walmart Inc. WMT, -1.15% declined 1.9% and Kohl's Corp. KSS, -0.15% slipped 0.9%.
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January 15, 2020 at 08:07PM
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Best Buy, toy makers and Walmart stocks fall in wake of Target's disappointing sales - MarketWatch
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