Holiday Shopping Season, Quarterly Earnings | featured news

Target Corp posted lower quarterly profit on Wednesday, as sales of food and value-priced items only partially mitigated some weakness it saw when holiday shoppers held back from discretionary spending in an uncertain economy.

Toy maker Hasbro says its fourth-quarter revenue failed to meet expectations because of weaker-than-expected demand over the holidays.

United Parcel Service Inc reported lower quarterly profit on Tuesday, citing slowing global trade, and said there was "some uncertainty" about the strength of the coming holiday season.

Best Buy Co reported weaker-than-expected sales for the key holiday quarter, prompting the world's largest electronics chain to close 50 U.S. stores and cut 400 jobs in corporate and support areas.

Target Corp. is reporting a 5.2 percent drop in earnings for the fourth quarter, as the retailer pushed big discounts to get tight-fisted shoppers to buy during the holiday season.

Wal-Mart Stores Inc won over shoppers during the holiday season, with its Walmart U.S. division posting a 1.5 percent rise in sales at stores open at least a year.