Traders are continuing to pull back Wednesday, the Associated Press reports, with futures for the S&P 500, Dow Jones Industrial Average and Nasdaq falling 0.2%, 0.1% and 0.3%, respectively.
Target slipped 9% after the retailer said that CEO Brian Cornell will step down Feb. 1 and be succeeded by COO Michael Fiddelke. The company also reported Wednesday that comparable store sales fell 1.9% in the period, a measure that has been flat or declined in eight of the last 10 quarters.
Home improvement retailer Lowe’s jumped 3.4% after beating Wall Street’s sales and profit expectations and announcing that it is acquiring Foundation Building Materials, a distributor of interior building products, for roughly $8.8 billion.
Estee Lauder fell 7.5% after the makeup and beauty company reported an 8% sales decline in fiscal 2025 and a substantial drop in adjusted per-share profit.
