TGT shares plunged 10% mid-Tuesday, breaking below its long-term trend line at the 200-day simple moving average.

Related: Strong Consumer Spending Isn’t Enough for Retail ETFs

Some analysts, though, believe that this is a necessary growing pain as retailers try to revamp their business model and improve scale.

“Some on Wall Street may lament the dip, but the truth is you cannot reinvent a retailer on the cheap,” Neil Saunders, managing director of GlobalData Retail, wrote in a note.

Meanwhile, Kohl’s (NYSE: KSS) revealed a 2.5% advance in comparable sales for the latest quarter, pointing to demand for apparel. The department store chain’s margins also slightly improved from a year earlier, but sales growth slowed. The retailer remains optimistic heading into the holiday season.

“I feel really good about where the customer is today,” Kohl’s CEO Michelle Gass said on a conference call. “There is no reason to believe that will change as we head into the holidays.”

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