Target Corp.

Target lowers 4Q profit and sales outlook

Target cut its fourth-quarter profit and sales outlook after the discounter wrestled with sluggish holiday traffic in its stores and weak sales in key areas like electronics and food that offset a surging online business.

The disappointing holiday season is a setback for Target, which like many other retailers is trying to reinvent itself to be more nimble in a changing landscape where online leader is setting the rules.

Target stepped up its value messages, ramped up its holiday marketing and showcased more exclusive merchandise like a new homegrown children's clothing brand called Cat & Jack. Apparently, it wasn't enough to draw shoppers to its stores, and...