Target earnings: Consumer slowdown 'disguised' by inflation, former retail exec says
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- Опубликовано: 21 май 2024
- Target's (TGT) latest earnings report did not meet Wall Street's expectations, as the retail giant reported a 3% year-over-year decline in sales and missed estimates for adjusted earnings. Storch Advisors CEO Jerry Storch joins Catalysts to discuss what these results mean for the broader state of the consumer.
Storch suggests that the consumer slowdown has been brewing for some time, but its effects have been "disguised" by inflation. He notes, "The consumer is spending more and getting less, and they know it" - forcing consumers to prioritize essential expenditures like food and healthcare. With Target having "made its name around nice-to-have fun products," Storch argues this is what is causing the disappointing results.
When asked about Target's ability to turn the tide, Storch acknowledges the company's efforts to create value by reducing prices on 5,000 items. However, he doubts the effectiveness of this strategy, saying, "They're clearly trying to project value, but the problem is they're not really set up to do it."
#youtube #inflation #stocks
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Because Walmart has actual aisles of food. It's not that hard to notice that most of the products at Target are not food.
They pretty much have the exact same ratio of food to other items. Probably depends on the location but in general Target has just as much food.
I work a target inbounding stocking shelves. They have cut my days and hours. Posted in office were these numbers projected daily sales $223,000 actual $98,000. The hope is a rebound with back to school.
I like to save my receipts, and probably could pull out something from years ago. So if Target could reward that, it maybe not a quick solution but it would be a reliable hedge all the time. Accumulation of history with Target.
(Not me cause I'm overseas, just a concept)
Target is my go-to store because they have MORE stores in the city. Our Walmarts are miles apart. In the city, TARGETS are as abundant as 7/11, almost one in every neighborhood.
Do you think Revux will pump before XRP?
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Because Walmart is affordable & target has 3 hours wait lines
Walmart used to be a lot cheaper than other stores but now it hardly is. Certainly not enough for it to be worth dealing with Walmart.
Clearing out all my Alts going into BTC and Revux only, maybe a little BNB and SOL
Revux keeps popping up in my crypto circles. Seems like a rising star!
Because people are tasteless