Posted on 06/13/2022 11:24:37 AM PDT by dynachrome
Target has announced that it will cut prices and cancel orders for thousands of its products, as part of a frantic effort to clear out billions in backed-up inventory.
The pent-up products consist of bulky items such as furniture, that were a commodity during the pandemic but have fallen out of favor now that restrictions have loosened, Target said Tuesday.
The company says it had nearly $15.1 billion of inventory as of April 30, the end of the first first fiscal quarter. The amount serves as nearly 50 percent more than that seen just a year ago.
Some of the blockbuster deals seen on the store's site include a four-piece outdoor furniture set, usually priced at $409.99, for $267.99 - markdown of nearly 35 percent, and a 40 inch HD television for $200, marked down from $250.
Other similar discounts ranging from 25 percent and higher for a variety of products are available both in-store and online.
In a statement to investors, brass for the big-box store warned the flash sales - which will likely see prices drop on items such as TVs, patio furniture, and home appliances - and cancellations would cut its expected profits this quarter by more than half.
(Excerpt) Read more at dailymail.co.uk ...
Target, a store full of mostly chinese junk.
Perfect for the unisex bathrooms
...The pent-up products consist of bulky items such as furniture, that were a commodity during the pandemic but have fallen out of favor now that restrictions have loosened...
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and the stimi checks have run out.
Move it all to their inner-city or California stores and let insurance cover the theft losses.
They can always advertise for a flash mob of thieves to take it all off their hands and claim the insurance.
I don’t know about the weirdos Target caters to but my fellow shoppers at Walmart are currently spending every dime earned, saved or borrowed on gas, food and the roof over their heads.
Haven’t shopped at Target for years. Not since they started letting men in the women’s bathroom and changing rooms.
I hate Target. I hope they tank.
No kidding.
Just saw Target commercial and it had a young boy given a little girlie toy doll and he was thrilled.
Go woke, go broke.
He may become a great actor.
People only have money for essentials. They are not buying patio furniture or TVs.
This has nothing to do with politics for me...I have always disliked target - from the first time I walked in one, I thought I was having a flashback to my childhood days going to Kmart with my mother. It felt desolate and devoid of life energy. Would rather deal with the world of Walmart weirdos than a place that seems like a graveyard.
Maybe they should throw in a free tank of gas when you buy patio furniture or a wide-screen TV.
Haven’t shopped at Target for years. Not since they started letting men in the women’s bathroom and changing rooms.
Same here. I pass one close by to go to Walmart.
A lot of it will get marked down below 50% because they're seasonal items and they will need to make room for back-to-school in 6 weeks (they start in August) and Fall in 8 weeks.
Target will also need to spend some money on advertising the markdowns.
tick tock
tick tock
Target is going the way of K-Mart.
The ones near me even look like them on the inside.
Mishmash of low quality clothes and chinese plastic crap, employees who can barely speak English and can’t understand a damn thing, dirty floors, and half staffed checkout.
I have to go inside to get pharmacy stuff, rarely get anything else.
I speak Spanish fluently but refuse to do so in a store in my country. Except when someone tries to insult me, then they get a tall, fit, Caucasian, well dressed and mature man telling them to Chinga tu madre. You should see the looks on their faces!!
Target probably made huge contributions to the 'rats which has led to the Bidenflation that is eating their lunch now.
Also, they’re anti-2a. Oh, and they chased off the Salvation Army bell ringers at the Christmas season.
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