Target stock

Retailer posts profit trailing Wall Street forecasts; shoppers buy fewer TVs and kitchen items.

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Consumers also are holding back on nonessential purchases because of rampant inflation. Shares of Target (TGT) plunged 25% in early trading on the news ...

The continued problems in the supply chain are hurting retail profits. The company said higher compensation costs for employees in its stores and distribution centers put a dent into earnings. , consumers aren't splurging on bigger-ticket items, such as televisions and exercise equipment. Target said overall sales for the company were up 4% from a year ago, topping analysts' estimates. The company blamed higher expenses due to continued supply chain disruptions. The retail giant reported a stunning 52% drop in profit for the first quarter, badly missing Wall Street's forecasts.

Shares of Target collapsed Wednesday after the brick-and-mortar retailer posted disappointing first-quarter earnings spurred by unexpectedly high costs that ...

On Tuesday, the U.S. Census Bureau reported retail sales climbed 8.2% on a yearly basis in April to $677.7 billion. Despite the worst inflation rate in 40 years, retail sales have been largely resilient during the pandemic—reaching a record level in 2021 and still going strong this year. In a morning note, market analyst Tom Essaye of the Sevens Report pointed out retail customers are buying less high-margin merchandise (like apparel and electronics) to instead spend more on lower-margin food (like bread and eggs), and also shifting spending away from brand names to cheaper private labels—signs that “consumers are starting to get squeezed by inflation.”

Shares of Target Corp. undefined are suffering a black Wednesday, as they are plunging toward their worst one-day performance in 35 years. The stock is...

Retail titan Target (TGT), one of a few retailers who could actually take a fight to Walmart (WMT), recently turned in its earnings report.

Going back to the last 12 months, meanwhile, shows that Target selling has been going on for some time but in lower numbers. Target has something of a useful competitive advantage on its side. The combination of factors behind Target ultimately leaves me bullish. Target has one other advantage in its ongoing battle with Walmart: a slightly more upscale presence. Target not only kept up its dividend for the last 54 years, including during the worst of the pandemic, but it’s also offered regular raises. Target is a powerful force in retail. In the last three months, sell transactions outweighed buy transactions by 46 to 41. In the period between December 2021 and March 2022, hedge funds pulled back on TGT stock by a little less than 100,000 shares. The investor sentiment, meanwhile, is in little rush to embrace that projection, yet doesn’t seem to reject it, either. Retail titan Target ( TGT), one of a few retailers who could actually take a fight to Walmart ( WMT), recently turned in its earnings report. The Refinitiv consensus called for $24.49 billion for the quarter. A Refinitiv consensus called for $3.07 in earnings.

The historic selloff in Target Corp's stock undefined is casting a pall on the retail sector, as shares of 90 of the S&P 500's undefined 92 consumer...

Walmart Inc.'s stock WMT,-7.21%slumped 5.9%, after tumbling 11.4% on Tuesday on the back of disappointing earnings. The two retail gainers were shares of discount retailers TJX Companies Inc. TJX,+6.64%, which rallied 9.1% after an earnings beat, and Ross Stores Inc. ROST,-0.31%, which tacked on 2.6%. Target's stock was the weakest of the bunch, tumbling 24.7% toward an 18-month low, as well as the biggest one-day plunge since Black Monday (Oct. 19, 1987), after a hugely disappointing earnings report. The historic selloff in Target Corp's stock TGT,-26.69%is casting a pall on the retail sector, as shares of 90 of the S&P 500's SPX,-3.93%92 consumer discretionary and staples companies are trading lower. Among some of the more sympathetic losers, shares of fellow discount retailers Dollar Tree Inc. DLTR,-15.24%tumbled 17.2% and Dollar General Corp. DG,-11.66%slid 12.2%, while membership-based warehouse retailer Costco Wholesale Corp COST,-12.42%sank 11.6%. Drug store chain and health care services company Walgreens Boots Alliance Inc.'s stock WBA,-8.10%dropped 6.6%, and was the Dow Jones Industrial Average's DJIA,-3.50%biggest decliner.

(KRON) – KRON4 financial expert Rob Black talks the Wall Street sell-off, Target stock plummeting and parallels between the crypto decline and the dot com ...

Three takeaways from the brutal earnings results from retail giants Target and Walmart.

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Check out the companies making headlines in midday trading. Target – Shares plunged 25.6% after the retailer reported disappointing quarterly results, ...

Shoe Carnival reported a quarterly profit of 95 cents per share, 9 cents above the Refinitiv consensus estimate. Goldman said it sees a longer path to growth for the eyewear retailer, which reported lower-than-expected quarterly earnings earlier this week. The container Store also said it aimed to reach $2 billion in annual sales by 2027. The big-box retailer reported lower-than-expected sales of discretionary products. Dollar Tree, Costco – Retail names were dragged lower Wednesday by industry giants Target and Walmart, both of which reported struggling with rising costs and inventory woes. Target – Shares plunged 24.9% after the retailer reported disappointing quarterly results, citing high fuel costs and inventory troubles.

The trends highlighted by Target's and Walmart's disappointing results bode poorly for Amazon. Investors reacted with shock, sending shares down sharply.

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Inflation is forcing consumers to alter their spending habits -- and eroding the retailer's profit margins.

Gasoline prices are at record highs above $4.50 per gallon in the U.S. Food and housing costs are also rising. Customers spent less on discretionary items, which forced the retailer to offer more discounts to clear excess inventory. "Guests continue to depend on Target for our broad and affordable product assortment." Higher gas prices are also increasing the cost of shipping goods to customers when they do make purchases. Still, Target believes these macroeconomic issues will eventually subside. Target's gross and operating margins, in turn, fell to 25.7% and 5.3%, respectively, down from 30% and 9.8% in the year-ago quarter.

Inflation always hits the lower-income cohorts hardest and first,” and the latest retail results show how that's playing out, one expert says.

On Tuesday, the U.S. Census Bureau reported retail sales climbed 8.2% on a yearly basis in April to $677.7 billion. Despite the worst inflation rate in 40 years, retail sales have been largely resilient during the pandemic—reaching a record level in 2021 and still going strong this year. In a morning note, market analyst Tom Essaye of the Sevens Report pointed out retail customers are buying less high-margin merchandise (like apparel and electronics) to instead spend more on lower-margin food (like bread and eggs), and also shifting spending away from brand names to cheaper private labels—signs that “consumers are starting to get squeezed by inflation.”

Target shares sank more than 25% in Wednesday trading after a big profit miss and a slowdown in key categories during first quarter.

As a result of the changing consumer environment and inflation, which has reached a 40-year high, Target is focused on value. While the retailer had hoped that volatility would moderate this year, “we don’t see conditions improving right away,” Cornell said. High savings, higher wages, and the employment rate continue to help shoppers, though spending is moving towards travel and other activities that get people out of the house as the world begins to recover from the COVID-19 pandemic. “We believe rising food prices (double-digit inflation), will continue to have an outsized impact on the spending power lower/middle income customers (a core base), making it increasingly difficult for Walmart to maintain its sales/margin trajectory off of its massive $400 billion sales base,” analysts wrote in a Walmart note. Beauty was also strong as Target TGT, -4.79%continues its partnership with Ulta Beauty Inc. ULTA, “While we anticipated a post-stimulus slowdown in these categories, and we expect the consumer to continue refocusing their spending away from goods and into services, we didn’t anticipate the magnitude of that shift.”

Target stock had its worst day since October 1987. This comes as the company reported a much weaker than expected quarter.

"Fuel ran over $160 million higher for the quarter in the US than we forecasted," Walmart's CEO Douglas McMillon said during Tuesday's earnings call. "While it's always the last lever we pull, external conditions led us to raise prices across a broad set of items in multiple categories." "This led us to carry too much inventory, particularly in bulky categories including kitchen appliances, TV's and outdoor furniture." Walmart also cited high fuel prices as a reason for the company's weaker than expected quarter. "While we anticipated a post-stimulus slowdown in these categories...we didn't anticipate the magnitude of that shift," Cornell said. This comes after the company reported much weaker than expected earnings last quarter.

Target shares dropped by 25% after an earnings report that many did not like (that creates a buying opportunity)

He's running Target to win for decades and he's positioned his company to do exactly that. The people who drove its share price down opted to focus on a clearly explainable short-term downturn in profitability. When a potential NFL player runs a 40-yard dash, the people evaluating the performance note the wind conditions. Analysts and more broadly "Wall Street" decided the numbers were bad without really looking at the long term or the company's actual health. Are its CEO's comments accurate and does he or she own up to mistakes or explain when things go wrong. Does the company deliver on its promises?

The pandemic glory days are over for retail, but Target said major price hikes aren't in the cards just yet. Target stock plummets, profits clobbered as ...

Famous for carefully managing costs, Walmart also posted poor earnings that it blamed on higher fuel costs, supply-chain problems, and inventory backlogs (alongside a couple other factors, such as increased labor costs). CEO Doug McMillon said the bottom-line results “were unexpected and reflect the unusual environment,” and added Walmart is working to find the correct balance between keeping prices as low as possible and not letting profits continue to slide. The early pandemic days were pretty good for retailers like Target. Profits climbed as they sold lots of furniture, big-screen TVs, kitchen appliances, washer-dryer sets, and other high-margin goods for the home—where consumers suddenly found themselves trapped and restless. Shares fell Wednesday by nearly 25% on the news, to about $163 in premarket trading, potentially setting the stock up for its worst day since 1987.

Registering its worst fall in the past 35 years, Target Corporation (NYSE: TGT) declined almost 25% to close at $161.61 on Wednesday.

Also, the first quarter number was 13.6% below the year-ago quarter. Overall, the Street has a Moderate Buy consensus rating on TGT based on 12 Buys and seven Holds assigned in the past three months. Until the cloud clears for Target, a wait-and-watch approach will be prudent. A couple of days back, another retail behemoth, Walmart Inc. ( NYSE: WMT), delivered disappointing results, with an earnings miss of 12.2% in the first quarter of Fiscal 2023 (ended April 30, 2022). It also made stock buybacks of $181 million, and its accelerated share repurchases (pending final settlement) amounted to $2.75 billion. Guest traffic growth was recorded at 4% in the quarter. Capital expenditure at $952 million reflected year-over-year growth of 76.3%. High transportation, supply-chain issues, freight charges, and actions to lower huge inventory dragged down quarterly results. Target’s price forecast of $220.43 implies 41.7% upside potential from current levels. Demand was favorable for household, food and beverage, and beauty products. The stock is currently down another 3.6% today. The reaction arose over Target’s earnings disaster in the first quarter of Fiscal 2022 (ended April 30, 2022) and concerns over the health of retailers in the country.

Stocks are falling after Powell said the Fed will be aggressive at fighting inflation. Walmart and Target stock are suffering from weak earnings.

Trading has been choppy on a daily basis and any data on retailers and consumers are being closely monitored by investors as they try to determine the impact of inflation and whether it will prompt a slowdown in spending. On Tuesday, Fed Chair Jerome Powell told a Wall Street Journal conference that the U.S. central bank will “have to consider moving more aggressively” if inflation fails to ease after earlier rate hikes. All told, more than 95% of stocks in the S&P 500 closed lower. The nation’s largest retailer fell 6.8%, adding to its losses from Tuesday. Target warned that its costs for freight this year would be $1 billion higher than it estimated just three months ago. Target lost a quarter of its value after reporting earnings that fell far short of analysts’ forecasts. Bond yields fell as investors shifted money into lower-risk investments. Stocks have been struggling to pull out of a slump over the last six weeks as concerns pile up for investors. In a sign of the impact of inflation, particularly on shipping costs, Target said its operating margin for the first quarter was 5.3%. It had been expecting 8% or higher. The S&P 500 tumbled 4%, its sharpest decline since June 2020. Apple lost 5.6%, its biggest decline since September 2020. The benchmark index is now down more than 18% from the record high it reached at the beginning of the year.