Weather is rarely a good excuse, but it has been a popular one among retailers reporting disappointing earnings for the first quarter. Target joined this cohort on Wednesday morning when it explained that a cool spring delayed purchases of patio furniture, grills and gardening gear. The company reported earnings of $1.32 a share, missing estimates of $1.39 a share, on revenue of $16.8 billion. That is frustrating for investors, who have been waiting to see Target’s many investments pay off. It has poured money into remodeling...

Source: Wall Street Journal May 23, 2018 15:19 UTC