0LD8.L - Target Corporation
| Previous close | 76.87 |
| Open | 111.76 |
| Bid | 0.00 x 0 |
| Ask | 0.00 x 0 |
| Day's range | 111.76 - 111.76 |
| 52-week range | 111.76 - 111.76 |
| Volume | 100 |
| Avg. volume | N/A |
| Market cap | 58.155B |
| Beta (3Y monthly) | 0.54 |
| PE ratio (TTM) | 18.50 |
| EPS (TTM) | 6.04 |
| Earnings date | N/A |
| Forward dividend & yield | N/A (N/A) |
| Ex-dividend date | N/A |
| 1y target est | N/A |
- Yahoo Finance
Why frozen food sales are rocking again in America
The frozen food business continues to do wonders for the bottom line of Conagra Brands.
- Bloomberg
Macy's Makeover Can Begin With These Four Steps
(Bloomberg Opinion) -- Macy’s Inc. is having a miserable year. With meager sales growth and a lackluster annual forecast, it is currently the worst-performing stock in the S&P 500 Index.It’s not as if the venerable chain isn’t trying. Macy’s has undertaken a wide array of turnaround efforts, including an expansion of its off-price Backstage business and a dramatic increase in its online selection. And there are clearly forces beyond its control, with the so-called retail apocalypse looming over the entire industry.All that said, there is more that Macy’s could do to improve its prospects. Here are four things the company should do right now.Strengthen its private-label apparel brands. These make up about 20% of the chain’s sales, and it could benefit from driving that share higher. Macy’s has said it is working on improving its sourcing of these garments. But it ought to go further, launching new brands and scrapping tired ones. When Target Corp. undertook a successful overhaul of its private-label clothing business, there were no sacred cows: In fact, two of its biggest, Merona and Mossimo, were dumped. Without seeing sales and profit figures for each Macy’s brand, it’s hard to know exactly which ones should be on the chopping block. But, to my eye, INC International Concepts looks ripe for a rethink. There are a whopping 633 different women’s tops under this label on Macy’s website as of this writing — an unnecessarily huge assortment that ranges from bohemian soccer mom to “Love Island” contestant. Who exactly is the customer for this? If Macy’s can’t answer that clearly, it should go. With Story, do it right or don’t bother. I was optimistic about this idea as a potential driver of foot traffic, as it is supposed to be an Instagram-friendly, gallery-like display space that brought frequent newness to a store. My latest visit to a Story shop-in-shop, however, soured me on its potential. Some of the décor for the newest back-to-school-themed display appeared to be leftovers from the previous outdoors-themed display. If Macy’s wants this thing to work, it has to invest enough to make each iteration different from the last. Either devote more resources to Story, which started just last spring in a few dozen stores, or scrap it. Speed up store renovations. Macy’s will have renovated 150 stores by the end of 2019, part of a prudent initiative it began in 2018 to give its most productive outposts new fixtures, better in-store technology and more localized merchandise. The company plans to do more of these renovations in 2020 and says these makeovers, which cost about $3 million a pop, could eventually go to as many as 350 stores. I’d recommend Macy’s not let the next 150 remodels take as long as the first 150. The spiffed-up stores are outperforming the rest of the fleet, so it’s a no-brainer to invest quickly in a wider rollout. Refine the vision for the rest of the store portfolio. There are hundreds of Macy’s stores that won’t be getting the splashy upgrades described above. Macy’s is calling these leftovers “neighborhood stores,” and executives plan to reduce them in both size and number of employees. I get why Macy’s doesn’t want to close them, as it finds it difficult to make those sales transfer to e-commerce or a nearby store. But the company will come to regret hanging onto dreary locations in dying shopping centers. Macy’s should consider something closer to Nordstrom Inc.’s strategy with Nordstrom Local, in which it is opening tiny service centers where customers can return or pick up online orders or have an appointment with a stylist. Locations for these Nordstrom outposts are being selected with digital shopping in mind. That may be more effective than Macy’s trying to repurpose real estate built for the shopping landscape of the 1980s or ’90s.To contact the author of this story: Sarah Halzack at shalzack@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Sarah Halzack is a Bloomberg Opinion columnist covering the consumer and retail industries. She was previously a national retail reporter for the Washington Post.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
- Market Realist
Kroger Stock Downgraded, Lags Walmart and Target
On Thursday, Jefferies downgraded Kroger (KR) stock to “hold” from “buy” and lowered the target price to $26 from $29.
- Bloomberg
Bed Bath & Beyond Pins Its Hopes to the Magic of Target
(Bloomberg Opinion) -- Bed Bath & Beyond Inc.’s sales have withered in recent years for a variety of internal reasons, but it has also suffered because of punishing competition from Target Corp. Now the beleaguered home-goods chain will try to get some of that Target magic for itself.Bed Bath & Beyond announced its new CEO Wednesday evening: Mark Tritton, chief merchandising officer at Target since 2016. Target’s recent turnaround is partly based on better merchandising in its home-goods department.This is an impressive poaching effort and a promising development for a chain that badly needed new leadership after longtime CEO Steven Temares — who finally departed earlier this year after a bruising activist investor fight — drove the company into a rut, with outdated stores and a sluggish move toward e-commerce.Tritton is a good fit for the role, given Bed Bath & Beyond’s needs. As Target’s chief merchant, he oversaw the rapid-fire development and rollout of more than 30 private-label brands, many of them in the home-goods category. Before Target, he was a senior executive at Nordstrom Inc., where he supervised the design and manufacturing of a stable of private brands.A stronger selection of private brands is essential to a Bed Bath & Beyond turnaround. These products could differentiate the chain from its competitors and, crucially, tend to be more profitable. That would be an enormous help for a chain that has decimated its gross margins in recent years.Bed Bath & Beyond has recently awakened to the role a stronger private-label offering could play for its business, with a pledge to debut six new such brands by 2020. So far, however, they’re unimpressive: One of its first launches, a line called Bee & Willow, lacked the charm and aspirational presentation that Target typically nails.Tritton also was in the C-suite at Target when it was working its way out of a rough patch in its pricing strategy for everyday essentials. The retailer recovered by tamping down on excessive promotional blitzes and focusing on lower everyday prices. Bed Bath & Beyond, with its tired buffet of 20% off coupons, could use a similar reassessment.Lastly, Tritton led merchandising at Target during a time of significant changes to in-store presentation. Sight lines have been lowered, produce is displayed in sleek wooden bins, and the beauty department now has a Sephora-like sleekness. Bed Bath & Beyond stores are cluttered mazes that could greatly benefit from an overhaul, which Tritton could oversee.Of course, merchandising is just one aspect of a potential Bed Bath & Beyond turnaround. Tritton’s resume is less reassuring about other key parts of the job. For example, the company has rightly been exploring strategic alternatives for its smaller chains, such as Cost Plus World Market and Christmas Tree Shops. It’s unclear how deft he’ll be at handling those potential divestitures.Tritton will face other challenges, too — especially at a company that is already cutting jobs and closing stores, which are not exactly morale boosters for employees.Overall, though, investors should be optimistic about Tritton’s arrival. Bed Bath & Beyond is in bad shape, but it is not beyond repair. He could be the one to pull off this home makeover.To contact the author of this story: Sarah Halzack at shalzack@bloomberg.netTo contact the editor responsible for this story: Michael Newman at mnewman43@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Sarah Halzack is a Bloomberg Opinion columnist covering the consumer and retail industries. She was previously a national retail reporter for the Washington Post.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
- Bloomberg
Bed Bath Surges as New CEO Could Crib From Target’s Playbook
(Bloomberg) -- Bed Bath & Beyond Inc. shares soared Thursday after the company named Target Corp.’s head merchant Mark Tritton as its new chief executive officer.Analysts were broadly encouraged by the announcement given Tritton’s successful tenure at Target. Loop Capital’s Anthony Chukumba cited the new CEO’s “retail/consumer pedigree” and merchandising and private label development “experience and expertise.”Morgan Stanley’s Simeon Gutman said he was surprised by the appointment since Tritton is more well-known than other names investors had speculated were potential considerations. Tritton wasn’t on the radar, he said. The appointment earned the stock an upgrade at Telsey Advisory Group.Analysts also cautioned that a Bed Bath & Beyond turnaround won’t be easy since there’s little room for error following a long period of sales erosion.The stock climbed as much as 26%, the biggest intraday advance since March, and is at the highest intraday since June. Shares have now erased their year-to-date loss and our up about 10%, after five straight years of negative performance.Here’s what analysts are saying after Tritton’s appointment:Telsey Advisory, Cristina FernandezFernandez upgraded the stock to outperform from neutral.While the analyst admits that a Bed Bath & Beyond turnaround won’t be easy, given its “market share losses and declining profitability in recent years,” she believes Tritton will “improve the company’s performance by implementing many of the strategies that have succeeded at Target.”Some changes that may be implemented at Bed Bath that were executed at Target could include:Refreshing the merchandise assortment with new goods, private labels, and exclusive brandsEnhancing the merchandise’s visual appeal and the in-store experienceImproving the integration of e-commerce and in-store -- known omni channel -- to include in-store pickup for online purchases, faster two-day delivery, and self-checkout.Fernandez boosted her price target to $16 from $14.Here’s what Bloomberg Intelligence had to say:Tritton is a “solid addition with the skills to improve private-label product and brand relevancy, which we think should help revive same-store sales.”--Analyst Seema Shah; click here for noteMorgan Stanley, Simeon Gutman“The unexpected announcement of Mark Tritton -- a credible leader and strong merchandiser -- as incoming CEO is a clear win,” Gutman wrote.Tritton adds “considerable credibility” to the company’s merchandising revamp, he said, adding he thinks the new CEO will, for the most part, “stick to the board/activist approved transformation plan.” There are still opportunities, however, to “import ideas” that worked at Target.While the stock could move above Gutman’s target of $12 in the near term, “concerns will linger” and “execution risk is high.” He maintains his rating at equal-weight.Loop Capital, Anthony Chukumba“Our only hang-up is Mr. Tritton’s lack of prior CEO experience, but we believe BBBY’s reconstituted board of directors has plenty of experienced executives who can guide him through the transition,” Chukumba said in a note to clients.There is plenty of “low-hanging fruit,” such as cutting costs and scaling back non-core areas of the business, he said, but improving merchandising and the supply chain will be the “crucial” part of the company’s long-term success.The analyst maintains his hold rating and $10 price target, seeing no reason “to get off the sidelines” until there is a better picture of Tritton’s turnaround plan.Jefferies, Jonathan MatuszewskiWhile Tritton’s “extensive background” in private-label merchandising will be helpful for the turnaround, “visibility remains low given execution risk inherent in an early-stage transformation with no notable inflection in fundamentals yet,” Matuszewski wrote.“Our understanding is that Tritton was a notable contributor to strengthened top-line at Target,” he said, while noting that he joined “when a clear strategy in place was working” and amid a deep pool of talented executives.The analyst’s rating is hold and his price target remains $11 per share.Wells Fargo, Zachary FademNaming of Tritton “checks many of the right boxes” and delivers a “near-term blow”‘ to the bear case, although “fundamental challenges remain,” Fadem wrote.Tritton’s skills, including reviving Targets’s private label strategy with the launch of more than 30 exclusive brands, will be “crucial” at the home-goods retailer.Given the share appreciation on the appointment, Fadem believes the market is “putting the cart before the horse.” He rates the stock underperform, with a price target of $10.(Updates with regular session trading and adds Wells Fargo comments.)\--With assistance from Matthew Boyle.To contact the reporter on this story: Janet Freund in New York at jfreund11@bloomberg.netTo contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Jonathan Roeder, Morwenna ConiamFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Market Realist
Target and Walmart: Is It Time to Exit the Stock?
So far, Target (TGT) and Walmart (WMT) stock have recorded stellar gains this year. The shares are trading at record highs.
- Reuters
Bed Bath & Beyond hires Target executive as CEO
Mark Tritton as chief executive officer, months after its long-time head, Steven Temares, left the company under pressure from activist investors, sending its shares up 23%. Tritton joined Target in 2016 and is currently its chief merchandising officer.
- Market Realist
Can Target Save Toys R Us from the Retail Graveyard?
Target has just announced a partnership with Toys R Us parent company Tru Kids Brands to manage online sales and order fulfillment.
- Investing.com
NewsBreak: Bed Bath & Beyond Names New CEO; Soars Postmarket
Investing.com - Retailer Bed Bath&Beyond; (NASDAQ:BBBY) rallied sharply in after-hours trading as the company named the former chief marketing officer of Target (NYSE:TGT) as its new chief executive.
- Yahoo Finance
Target, Walmart rejoice — Holiday spending is expected to rise nearly 5% this year
Holiday spending is expected to rise 4.9% this year, a new forecast says.
- Yahoo Finance
Target is winning the great American toy war
Target looks set for another big holiday season in the toy business. Here's why.
- Yahoo Finance
My weekend trips to Target reveal why the stock price is at a record
Target has had a monster year, no doubt about it.
- Reuters
Target to power new Toys 'R' Us online business
Under the partnership, consumers browsing toys on the ToysRUs.com website, relaunched on Tuesday, can click on "Buy now at Target.com" to complete their purchase. Shoppers can also take advantage of Target's free two-day shipping, same-day curbside or store order pickup, same-day delivery with Shipt, the retailer said. Retailers like Walmart Inc and Target have been vying for a share of toy sales in the U.S. after the bankruptcy and subsequent liquidation of Toys 'R' Us last year.
- Investing.com
GameStop Falls Midday as Sony Releases PlayStation 5 Details
Investing.com - GameStop (NYSE:GME) was lower in midday trade on Tuesday after Sony (NYSE:SNE) said it would release its latest PlayStation model during the 2020 holiday season.
- Investing.com
Stocks - Boeing, Oracle Fall Premarket; Nio, Target Rise
Investing.com - Stocks in focus in premarket trading on Tuesday:
- Bloomberg
Not Even the Trade War Can Dampen Their Holiday Spirit
(Bloomberg Opinion) -- It’s early October, which can mean only one thing for U.S. retailers (if not shoppers): Time to shift the focus to the holidays.This year brings a confusing mix of signals about how the industry will fare during the annual seasonal shopping blitz. The unemployment rate is at its lowest level in 50 years, which suggests an upbeat consumer environment that should have many shoppers opening their wallets. But newly implemented tariffs — and the feeling that President Donald Trump could change course on those policies at any moment — loom as a giant question mark.Despite this uncertainty, one prediction seems perfectly safe: No matter what, the holiday season is going to be to a merry one for Walmart Inc. and Target Corp. Both chains are in their best shape in years, and even if the consumer picture darkens, it doesn’t much threaten them.The two giants of big-box retail have been on impressively long streaks of comparable sales growth. They are outliers in a sector littered with companies that are either withering (Forever 21, Bed Bath & Beyond Inc.) or struggling (Macy’s Inc., Kohl’s Corp.).There’s no reason to think Target and Walmart won’t be able to keep up their steady performance in the fourth quarter. Both were successful last holiday season in capturing some of the toy sales that were up for grabs after Toys “R” Us had liquidated. Both have made investments this year to help them beat back competition in the seasonal showdown: Target is remodeling about 300 stores this year, making its aisles easier to navigate and freshening its look. Walmart has added one-day shipping on hundreds of thousands of items, answering Amazon.com Inc.’s promises of ultra-speedy shipping.Speaking of e-commerce, both Walmart and Target stand to benefit from their relatively mature click-and-collect models. This service is helpful year-round, both because consumers like it and because it is often more profitable for the retailer to have customers pick up a product than to ship it to their homes. But they have a particular advantage during the holiday season. In the final days before Christmas, when many people would otherwise stop shopping online for fear their orders won’t arrive at their doorsteps on time, this format allows retailers to keep wringing more sales out of online shoppers.Walmart and Target also stand out because, if the worst-case scenarios for retailers do come to pass this holiday season, they are especially well-equipped to withstand them. The biggest danger for the industry this season is unpredictable fallout from the trade war with China. If consumers see higher prices or feel more pessimistic about the economy, they could curtail their spending.If so, Walmart and Target will be just fine, at least in the short term. Both are known for low prices, so cautious consumers looking to trade down will come their way. Their scale gives them particular power in negotiating with suppliers to keep their prices looking favorable compared to the competition.Given that the enactment of some tariffs was delayed until after holiday merchandise was imported — and that many retailers say they have found ways to at least temporarily avoid passing on price increases to consumers — it’s likely that the retail industry will have a happy holiday season. But whatever happens, Walmart and Target will be a little happier than everyone else.To contact the author of this story: Sarah Halzack at shalzack@bloomberg.netTo contact the editor responsible for this story: Michael Newman at mnewman43@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Sarah Halzack is a Bloomberg Opinion columnist covering the consumer and retail industries. She was previously a national retail reporter for the Washington Post.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
- Bloomberg
Ann Taylor Is Part of a Failed Retail Experiment
(Bloomberg Opinion) -- Ascena Retail Group Inc.’s gloomy quarterly results are a reminder not just of why the giant chain feels such enormous pressure to change. They also show the challenges retailers face when they try to create a whole greater than the sum of its parts. The retailer, the corporate parent of chains such as Lane Bryant and Ann Taylor, said Thursday its gross margin slipped to 54.3% from 58.1% a year earlier as it increased discounts and promotions to clear inventory. Comparable sales sank 2% from a year earlier for its chains excluding Dressbarn, which is in the process of shuttering all of its 616 stores.The weakness emphasizes why the company has already been undergoing a dramatic overhaul: In addition to winding down Dressbarn by the end of the year, it has sold Maurices, a 943-store chain. And it could rip up its empire even further, as Bloomberg News has reported that it is considering a divestiture of plus-size chains Catherines and Lane Bryant.Slicing up a specialty retailer is certainly in vogue right now: Gap Inc. is soon to split in two, and J. Crew is to spin off its Madewell chain. But Ascena is different because it’s an apparel conglomerate that was bolted together only four years ago.When Ascena acquired Ann Inc., the company that included Ann Taylor and Loft, executives promised many benefits. Ascena had been growing via acquisition for about a decade by then, and the idea was that it knew how take advantage of efficiencies (centralizing back-office functions, for example, or stuffing several brands into one e-commerce distribution center).But whatever Ascena has done on that front, it is hard to argue that it is now a healthier retailer. The company has had five consecutive years of losses as it has struggled to offer the right clothing selection, relied heavily on discounting and maintained stores in less-than-ideal locations.Ascena, after having paid about $2 billion for Ann, now has a market capitalization of about $61 million. There are Manhattan penthouses worth as much this chain of more than 3,400 stores. It had been clear for some time that the Ann acquisition was not shaping up to be a boon for Ascena. My colleague Tara Lachapelle noted as far back as 2017 – when the deal forced the company to take a significant charge – that the Ann deal was adding to the company’s problems.Now, if Ascena ends up unloading Catherines and Lane Bryant, what will remain is just the old Ann Inc. plus children’s retailer Justice. The deal will have proved to be a nearly pointless exercise. More important, its failure would call into question the company’s strategy over a much longer period.Stacey Widlitz, president of SW Retail Advisors, points out that Ascena’s diversification plan ultimately left it fighting three distinct battles on what are arguably the toughest fronts in retail: The value apparel category, where Target Corp. and Old Navy dominate; the teen category, where online shopping has been especially disruptive; and mid-priced apparel, where almost no retailers are prospering right now.Maybe it’s for the best, then, that longtime CEO David Jaffe and CFO Robb Giammatteo have each departed those roles in recent months.Can new leadership revitalize the company? It’s doubtful. Ann Taylor and Loft have performed relatively well lately, and they are positioned to pick up market share that department stores are shedding. But those chains are putting too much effort toward growing their outlet businesses online, which will cheapen the brands over the long term and potentially hurt margins.Whatever happens with those chains now, one thing is abundantly clear: Ascena’s experiment has not worked out as planned. To contact the author of this story: Sarah Halzack at shalzack@bloomberg.netTo contact the editor responsible for this story: Michael Newman at mnewman43@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Sarah Halzack is a Bloomberg Opinion columnist covering the consumer and retail industries. She was previously a national retail reporter for the Washington Post.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
- Yahoo Finance
PepsiCo will hit a mind-blowing $2 billion in online sales this year
PepsiCo is hauling in massive sales online.
- Simply Wall St.
Target (NYSE:TGT) Has A Pretty Healthy Balance Sheet
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
- Market Realist
Kroger to Cut Mid-Management Jobs across Stores
Kroger plans to remove hundreds of mid-management employees. The move may be part of its plan to reduce costs, drive efficiency, and invest in technology.
- Yahoo Finance
Costco is recession proof: strategist
Costco received a warm welcome when it opened its doors in Shanghai. One strategist expects the company will be successful in China.
- Bloomberg
Holiday Shoppers Weighing Carbon Footprint in Delivery Decisions
(Bloomberg) -- Mother Nature is figuring into consumers’ holiday spending plans this year.The environmental impact of fast-delivery options, which may include using planes and shipping multiple items separately, is a concern resonating with Americans, according to Accenture’s Annual Holiday Shopping Survey. Half of respondents said they’d choose options that leave a smaller carbon footprint, such as slower shipping or in-store pickup.“Consumers are starting to care” about the use of cardboard and the impact of next-day shipping, Jill Standish, senior managing director and head of Accenture’s global retail practice, said in an interview. “This is just the beginning. This is the new normal.”To be sure, while consumers say they want to rein in any repercussions on the planet from their shopping habits, it’s unclear how much their behavior will actually change. One-day or other fast-shipping options may prove too strong a lure, especially when trying to meet holiday deadlines.Amazon.com Inc., Walmart Inc. and Target Corp. have been investing billions of dollars to speed up and broaden delivery options as they vie for customers, a strategy that has put pressure on their profit margins. Walmart has said its shift to one-day shipping will mean items will typically come in just one box from a single warehouse that’s closest to the customer. Amazon, meanwhile, said in April that reducing delivery times for its top customers would cost it $800 million in the second quarter alone.In addition to the environment, social responsibility is becoming more important to consumers, according to Accenture. Of the 1,500 people surveyed in July and August, 45% said they plan to shop at retailers this holiday season who demonstrate social consciousness in their business practices and working conditions.Six out of seven participants said they plan to spend the same or more than last year, averaging $637. On average, men expect to lay out $685, about 15% more than women, with gift cards, clothing and footwear the most popular purchases. Respondents were split evenly between men and women, with 20% representing each of five generational groups from Gen Z to Baby Boomers.\--With assistance from Jordyn Holman and Matthew Boyle.To contact the reporter on this story: Lisa Wolfson in Boston at lwolfson@bloomberg.netTo contact the editors responsible for this story: Anne Riley Moffat at ariley17@bloomberg.net, Jonathan RoederFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Yahoo Finance
Why Forever 21 will probably disappear forever
Forever 21 potentially going out of business makes a lot of sense.
- Market Realist
Is Target Stock Poised to Grow Further?
Target stock has generated stellar returns this year, outperforming broader markets by a wide margin. It had risen 60.6% year-to-date as of Friday.
- Yahoo Finance
Revealed: How Amazon uses third-party seller data to build a private label juggernaut
Former Amazon employees confirm third-party sellers' concern on how their data are used. Regulators are taking a closer look.
