Target falls after Q3 sales miss estimates

Shares of big-box retailer Target TGT.N down about 2% at $86.72 premarket

Company reports a bigger-than-expected drop in quarterly comparable sales as U.S consumers are pulling back on discretionary spending on apparel and home decor

Q3 comparable sales down 2.7% compared with analysts' estimate of a 2.08% fall - data compiled by LSEG

Quarterly revenue falls 1.6% to $25.27 billion

TGT posts Q3 EPS of $1.78, beating estimate of $1.72

Target last month cut 1,800 jobs to reduce costs and streamline operations

As of last close, shares down 34.5% YTD