I don't see how Target's sales could be off this Christmas.
Posted on 11/15/2023 7:35:13 AM PST by Diana in Wisconsin
Target’s sales slumped last quarter and the retail giant is predicting a slow holiday shopping season.
Target’s sales tumbled 4.9% — the second quarter in a row sales have dropped. And the company forecast a weak holiday, as customers continue to forgo discretionary purchases like furniture, electronics and some clothing. Target expects sales to decline by mid-single digits this holiday season.
Shoppers have become more cautious in the face of inflation, higher interest rates and the resumption of student loan repayments. Consumers aren’t spending on home improvement projects the way they were during the pandemic, Home Depot said Tuesday.
Retail sales also dropped in October for the first time in seven months, the Commerce Department reported Wednesday.
Despite the sluggish sales, Target’s profit beat Wall Street’s expectations last quarter, and the stock surged 14% in premarket trading Wednesday. Heading into Wednesday, Target’s stock had dropped 36% over the past year.
Wall Street was more focused on Target’s profit last quarter, which grew 36% from a year ago. As shoppers have pulled back, Target has been stuck with an inventory glut. That has hurt its profitability.
But Target’s inventory levels are leaner than they were a year ago and Target is marking down fewer products. Target’s profit also grew from lower freight and supply chain costs.
After a half year of negative headlines, culture war distractions and a massive stock slump, Target finally had something to cheer.
(Excerpt) Read more at channel3000.com ...
"Target’s quarterly sales fell for the first time in six years over the summer as consumers pulled back on discretionary goods and fierce right-wing backlash to Target’s Pride Month collection took a toll on the brand."
“Pride Month” certainly didn’t help, but their policy of allowing certain ‘groups’ to not have to pay for their items also isn’t helping their sales volume.
I’ve not stepped foot into Target since they drove away the Salvation Army bell ringers (not that it matters now) and opened their bathrooms to chomos.
It’s not a *warning*.
It’s whining about the outlook of decreased sales. It affects the customers not the least.
In the eyes of most Americans, normal people protect kids.
I refuse to shop there as well.
I wouldn’t care if they sold everything for a penny.
Not supporting a business that supports sexual deviancy.
Season’s Beatings!
Slow holiday season...
Or is Target trying to explain away already empty shelves it can’t afford to stock?
Inquiring minds want to know.
Huh? The way to move excess inventory is to NOT mark down products? Makes no sense.
The entire article is nothing but bad news upon bad news, gloom and doom. There is nary an upbeat note to be found anywhere in the article except for "Target’s inventory levels are leaner than they were a year ago and "profit also grew from lower freight and supply chain costs."
First they had an inventory glut and didn't move it with lower prices. Then they have leaner inventory levels.
Makes no sense.
And how can freight and supply chain costs be lower? Maybe because diesel went from $7/gallon to $6/gallon?
Makes no sense.
BUT, the article ends with...
Target finally had something to cheer.
It sounds like this was written by Brandon's Rah-Rah Sis Boom Bah Boys.
Never shopped there, even though there was one close to my workplace and right on the way home everyday.
The ‘unisex bathroom stuff’ really turned me off. When Walgreen’s did the same, I stopped shopping there, too.
And somehow, MAGICALLY, my life hasn’t changed one bit! I can still find the things I need to run a household and farm. Go figger! ;)
Target is setting expectations, in some ways it’s the right and realistic thing to do, and I’ll bet they somehow find a way to blame, Republican/Racisim/Transphobia/White/Men/Trump/MAGA/Gun Lovers etc, etc, for their downturn.
Perhaps allowing more mentally Ill men into women’s Restrooms will help sales? Or more Satanic clothing? Penis tucking female swimsuits?
I was also reading where most Bidenskyyyyyyynomics Gaslight Shoppers have maxed out their plastic. That’s not good. I imagine most are hopin’ Pedo Joe Santa will come through for them and cancel their credit card balances for the Christmas Season.
I don't see how Target's sales could be off this Christmas.
This affects China’s economy more than ours.
But Bidenomics! LOL.
Fixed it.
There is the fact they are leftards, but it probably won’t be a big profitable season this year for too many that aren’t in government especially.
Congress gave themselves a giant pay hike so they will have a nice material jolly one for themselves.
With all the freeloading, Rio Grande waders out shopping, Walmart is rolling in the big bucks. The Christmas shelves at the Walmarts here are already thinning down. If you’re looking to see some real “asylum-seeking refugees” in the wild, you’ll find them in the toy and Christmas departments. They are some toy buying fools. They seem to have a lot of disposable income. Black Friday is when they restock their flea market tables so stay out of the way if you go out.
If I can't find it for free on Craigslist, I don't need it.
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