MINNEAPOLIS — Target reported a 43 percent drop in fourth-quarter profit and weak store sales overshadowed an improving online performance. Its outlook for the first quarter and all of 2017 were far below what industry analysts had been expecting.

Shares tumbled nearly 13 percent before the opening bell Tuesday and the numbers in Target’s report dragged other retailers like Wal-Mart and Macy’s down with it in premarket trading.

The Minneapolis company warned early this year about what was to come after a disappointing holiday season, but investors were still rattled by the numbers released Tuesday.

For 2017, Target Corp. anticipates an adjusted profit of $3.80 to $4.20 per share. That’s wasn’t even close to the per-share earnings of $5.32 that Wall Street was projecting, according to a poll of analysts by FactSet.

Neither was Target’s first-quarter profit projection of between 80 cents and $1. Analysts, according to FactSet, expected $1.33 per share.

For the three months ended Jan. 28, Target earned $817 million, or $1.46 per share. Stripping out certain items, earnings were $1.45 per share, or 5 cents less per share than industry analysts had projected, according to analysts polled by Zacks Investment Research.

The quarter’s profit came in well below the $1.43 billion, or $2.31 per share, the company reported last year.

Sales dropped to $20.69 billion, from $21.63 billion last year, and were also short of Wall Street projections.