CNBC: Target’s recent trade imports data tells the real story behind massive earnings miss

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CNBC reports:

After its biggest earnings miss in two years and stock plunge, Target laid some of the blame on the recent U.S. ports strike, citing higher freight costs it absorbed as a result of preemptive action to move more product into the U.S. ahead of October. But cargo container trade data reviewed by CNBC tells a more nuanced tale.

The port strikes, which stretched from New England to Texas, wound up lasting only a few days, but many companies, including Target, had rerouted and pulled forward shipments, loading up on inventory to make sure they had the merchandise needed for the holiday season…

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