Price Action: Target’s stock closed the day at $121.72, down 21.41%. According to market strategist Ryan Detrick, Wednesday was the Minneapolis, Minnesota-based company’s third-worst day in history in the market.

Meanwhile, Williams-Sonoma’s price action was certainly something to write home about. The San Fransisco, California-based company’s shares closed the Wednesday trading session at $175.04, up 27.54%. This was the company’s second-best day ever in the market.

Wells Fargo and Citigroup issued a downgrade for Target stock on Wednesday, according to Benzinga analyst ratings.

Williams-Sonoma Earnings: Williams-Sonoma’s report painted a rosier picture.

The company reported earnings-per-share of $1.96, beating estimates of $1.78. The home furnishing and cooking retailer also gained market share and raised guidance.

Laura Alber, president and CEO, highlighted the company’s margins as a catalyst for its earnings beat.

“Our operating results reflect the operational improvements that we have been focused on all year, and demonstrate the strength of our margin profile in a difficult environment," Alber said in a press release.

The Retail Industry: Target sells Williams-Sonoma cookbooks on its online e-commerce platform.

The two earnings reports paint mixed signals for a retail industry at a crossroads. While some retailers have continued to struggle amid tough macroeconomic conditions and rapid change in the industry at large, others have flourished.

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