Both Target and Gap Inc missed April sales estimates.
Newport Beach, CA (PRWEB) May 03, 2012
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The market dropped on Thursday as anticipation of tomorrow's government jobs data has many investors nervous. However, the latest estimates from economists surveyed by Reuters call for a gain of 170,000 new positions.
Many big retailers such as Costco and Macy's reported on Thursday that April revenue rose less that 1 percent in the worst performance since 2009.
Costco closed in the red on Thursday at $84.24.
Macy's closed in the green at $41.55 but sunk into the red in after hour trading.
Both Target and Gap Inc missed April sales estimates. Target closed in the red at $56.55 and Gap closed down 1.6%.
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