Target's Stock Falls After Its Website Crashed

Shares of Target Corporation TGT were trading lower by around 1.60 percent Monday afternoon, underperforming the approximate 0.75 percent decline in the Cyclical Consumer Goods & Services segment.
Investors were reacting negatively to Target's website which crashed on Monday following higher than expected traffic.
Target's website appears to have been fully restored and operational by 130 PM ET.

Typically speaking, a higher than expected traffic to an online store is a good indicator of sales trends. However, when the company's online website crashes and becomes unavailable, consumers may decide to shop elsewhere. This was a problem Target faced on Cyber Monday. The company's online website crashed due to higher than expected traffic. Users who visited target.com were unable to purchase items and faced a message stating: "So sorry, but high traffic's causing delays. If you wouldn't mind holding, we'll refresh automatically & get things going ASAP." Target's stock lost more than one percent during Monday's morning session and were lower by more than 1.5 percent by the afternoon. "Both traffic and order volumes are exceeding Target's Thursday Black Friday event, which was our biggest day ever for online sales," Jamie Bastian, a Target spokesperson

told CNBC. "To help manage the volume, we have been metering traffic to the site. We have teams working diligently to restore Target.com to full functionality," said Target spokesperson Jamie Bastian." By 1:30PM ET, a visit to target.com revealed the issues may have been resolved as the website was functioning properly. Nevertheless, retail investors remain on edge following an important start to the holiday shopping season, especially in the online space.

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