|Bid||119.12 x 900|
|Ask||119.48 x 1200|
|Day's range||118.89 - 120.59|
|52-week range||80.03 - 130.24|
|Beta (5Y monthly)||0.80|
|PE ratio (TTM)||22.06|
|Earnings date||19 Aug 2020|
|Forward dividend & yield||2.72 (2.28%)|
|Ex-dividend date||18 Aug 2020|
|1y target est||129.59|
Target (NYSE: TGT) is adding groceries to its curbside pickup program, Drive Up. After successful tests in Minneapolis, Target expanded grocery pickup to 400 stores in the Midwest, and it plans to cover all 1,500 stores by the holidays. While all of e-commerce is growing rapidly amid the coronavirus pandemic, online grocery sales have led the way.
Target (TGT) closed the most recent trading day at $118.96, moving -0.81% from the previous trading session.
Is it bye-bye to Macy's if a COVID-19 second wave happens?
One of the surprise beneficiaries from all of the disruption COVID-19 has brought to the U.S. is Target (NYSE: TGT). Target has spent the last few years building out digital offerings that utilize its existing stores rather than trying to replace them. My local store has eight Drive Up spots next to the side of the store, which looks more like a grocery store drive-up lane than a traditional Target store.
Yahoo Finance catches up with Beyond Meat founder and CEO Ethan Brown.
Retail-Discount Stores Industry Success Hinges on Digitization
Target (TGT) is adding 750 fresh and frozen grocery items to its in-store order pickup and curbside drive up online services to make consumers' lives easier amid the pandemic.
Target (TGT) closed the most recent trading day at $119.81, moving +0.08% from the previous trading session.
(Bloomberg Opinion) -- When state and local leaders began issuing stay-at-home orders in mid-March to limit the spread of the novel coronavirus, grocery and big-box stores saw their shelves picked bare as shoppers prepared to hunker down at home. Several months into our pandemic-era reality, the panic-buying phase has passed, and shoppers are reporting some improvement in what they’ve been able to find at stores from those early days. NPD Group found in recent surveys that 37% of shoppers had experienced out-of-stocks when shopping for food in the month of May, down from 48% who said the same for the month of April.But you need only take a trip to your local supermarket or try to fill your digital grocery cart to see that the out-of-stock situation hasn’t returned to pre-pandemic patterns. So what is going on? It varies from item to item, but here are some reasons you might still be having to substitute – or do without – some of your go-to groceries: Dislocation of demand: This is a problem I’ve come to call the Toilet Paper Problem, because it is the hard-to-find item most frequently used to illustrate this particular shock to the consumer-product ecosystem. Before the pandemic, people used the bathroom in all sorts of places: at home, offices, schools and restaurants. Now, though, a lot more bathroom trips are happening at home, meaning so-called retail toilet paper – the Charmin or Cottonelle you buy at the grocery store – is needed in greater quantities, while the giant commercial rolls at office towers or sports arenas are needed in smaller quantities. It is simply taking manufacturers and retailers time to adapt to a world where people are spending less time in commercial and institutional spaces and more time at home. This is why, for example, you may have encountered out-of-stock pasta, rice or beans – people are eating more meals at home, and the supply chain that provides those goods in bulk to restaurants, cafeterias and hotels can’t turn on a dime to change their pack sizes and forge relationships with retailers.The rise of one-stop shopping: If you’re trying to practice social distancing, you likely want to consolidate your shopping into as few trips as possible. For many people, that means skipping so-called fill-in trips and buying things at a supermarket or big-box store that they might previously have bought elsewhere. Jim Hertel, a grocery industry consultant with Inmar Intelligence, says that items frequently purchased at drug stores – over-the-counter medication, for example, or cosmetics – are often getting tacked on to big grocery orders. Retailers and manufacturers may not yet have caught up to this change in behavior, leaving that type of product out of stock in certain locations. New consumer habits: Stay-at-home orders and the related economic fallout have scrambled purchasing decisions in various small ways that add up to big change for food retailers. Maybe you’ve taken up baking your own bread to kill time. Maybe you used to eat kale salads for lunch and now you’re scarfing comfort food like Kraft Macaroni & Cheese because it keeps in your cupboard forever and you don’t want to set foot in a store. Maybe you lost your job and have switched to cheaper brands to save money. All of this makes the work of a grocery merchandiser exceedingly difficult, and they might not always get their ordering decisions right, especially not in the short term. Over time, the food industry is going to need to figure out which of these changes are a fad and which are here to stay. For example, David Portalatin, a food industry analyst with NPD, expects pandemic shopping patterns to stoke lasting demand for frozen meals and foods, which are consistent with the recent preference for simple ingredients but offer convenience and can be stored for a long time. Sourcing issues: Covid-19 has ripped through U.S. meat processing plants, which temporarily shut down some production lines and contributed to shortages of meat on store shelves. Recent outbreaks at some U.S. farms raise concerns that certain produce items could end up being in short supply at various times, too. Fortunately, it’s unlikely similar issues will affect in-stock levels of many types of packaged food. Experts I spoke with said food manufacturing such as filling soda bottles is so highly automated and thus requires so few people that it’s not difficult to keep those production lines going while adhering to social distancing measures. Out-of-stock situations are a frustrating experience and represent a lost sale, so the industry has strong incentive to fix these problems quickly. Some of the largest players – Walmart Inc., Target Corp. and Kroger Co. – may have the easiest time doing so, as their scale gives them particular power with suppliers. Walmart and Target have the added benefit of being havens for customers who have a one-stop shopping mentality, which may only further strengthen the big-box players’ market share in the Covid-19 era. For shoppers, it’s good to know these disruptions aren’t likely to be too long-lasting. But for stores big and small, it means making the necessary adjustments before rivals do. This 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/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Carlyle Group Inc. bought a business that sells harsh chemical cleaning products to put streak-free shines on kitchen appliances and swiftly remove dried paint. Then private-equity executives set about changing the products and even the office lightbulbs. Now the company, Weiman Products, sells a line of cleaning sprays made to emphasize sustainability and appeal to eco-conscious shoppers. Business has improved, which should help when it’s time to sell the company.This process plays out hundreds of times each year in the world of private equity, and an investor like Carlyle would be expected to tout improvements in revenue and profit margins. In this case, though, Carlyle also wants to position the deal as proof of its commitment to fighting climate change—and a demonstration that moneymaking private-equity investors can be a force for progress.“We fundamentally think Weiman will be worth more upon exit because of this focus on the sustainability of their products,” says Megan Starr, the head of impact at New York-based Carlyle.Starr’s job at Carlyle, which she joined last year, is to push environmental, social and governance (ESG) strategies throughout its $217 billion portfolio, even if these businesses aren’t easy to square with a commitment to the climate. That makes Carlyle’s approach different from private-equity rivals such as KKR & Co. and TPG Capital, which have set up dedicated impact funds targeting renewable energy and sustainable ventures. At Carlyle, investments in fossil-fuel production and cleaning chemicals are all supposed to be ways to make a better world.The problem for private equity’s push into into ESG is what can be done to address business in all kinds of controversial areas, says Mark Campanale, founder of the Carbon Tracker Initiative. “I think the answer to that is ‘not very much,’ so long as pension funds and insurance funds still want to allocate to that area.” That legacy, for Carlyle, includes a minority stake in Combined Systems, a manufacturer of tear gas. Carlyle says it wouldn’t make such an investment today because it would violate the firm’s responsible investing guidelines.A basic premise of the ESG movement is to discourage investment in companies that, for example, create heavy greenhouse-gas emissions. Carlyle finds itself among an emerging group of investors that believes in the ability to bring about positive change, even in some companies that would fare poorly on ESG measures. That raises a big question: Can private-equity investments in things that aren’t great for the planet actually be a force for good?There wasn’t a single green cleaning product sold by Weiman in 2018. Unilever NV and other consumer-products companies had started moving aggressively to become more like businesses idealistic millennials would want to work for and environmentally-conscious shoppers would want to buy from. But Weiman had been sitting out the rise of green consumerism before Carlyle purchased the company in March 2019.Carlyle worked with Weiman’s board for a year after the acquisition to ditch harsh chemicals. In the process, it bought two natural-cleaning brands, Green Gobbler and Bio-Kleen, and spent more than $750 million combining the three companies. The new Weiman had some products that qualified for a “safer choice” label issued by the U.S. Environmental Protection Agency. The micromanaging reached into details about water use at factories and installing LED lights at corporate headquarters in Gurnee, Illinois.It wasn’t that company executives didn’t want to go green before—they just didn’t really know how. Past attempts had been made to switch to lightweight packaging. But division managers would come up with scattered ideas and there were no real experts to help with execution, says Heather Gaspar, head of marketing and sustainability at Weiman.Private equity brought both money and expertise. Jackie Roberts, a chemical engineer and operating executive at Carlyle, joined Weiman’s board and helped outline the range of possible green certifications. She even accompanied Weiman’s chief executive to meetings with Target Corp., a major customer. The company had been losing ground at Target and Walmart Inc., both of which are now seeking more transparency on suppliers’ carbon footprints. There were some questions Weiman executives didn’t know how to answer. Carlyle’s team helped explain how to fill out Walmart’s sustainability scorecard and how to calculate the footprint of their own supply chain. “They have been so helpful,” says Gaspar. “I would say they are much more of a resource versus coming in and telling us how to sustainably run our business.”ESG funds have exploded in popularity in recent years, and private capital has started moving in. KKR topped $1 billion for its first Global Impact fund last year, and TPG has a $2 billion Rise Fund aimed at impact investing. In part this a response to pressure from big investors like pension funds to face the risks of global warming. About a third of private-equity investors in the U.S. planned to modify portfolios in response to climate change, according to a November report by PE firm Coller Capital, and three out of five European and Asian private-equity investors planned a similar shift.Response to this pressure can take the form of ditching companies that don’t do enough. The number of climate-related shareholder resolutions for oil companies ballooned last year, and it’s no longer just climate activists launching them. Other big investors, such as American and European banking giants, have bowed to pressure to stop financing some coal and drilling businesses.Embracing the ideas of ESG can also mean steering capital toward firms with strong environmental and social governance criteria. The amount of capital raised by dedicated impact funds in the first half of 2019 surged to $28 billion, up from $18 billion for the whole of 2018 and just $8 billion in 2010, according to consultants at Bain & Company.Carlyle is among those taking an approach that includes impact investing, in which the promise of competitive returns comes with a promise of measurable impact. This means shaping businesses directly, rather than just investing in the good ones. By eschewing separate funds in favor of applying ESG strategies throughout its entire portfolio, Carlyle is trying to replicate what has traditionally only been achieved by niche firms like Leapfrog Investments or Bamboo Capital Partners.For Carlyle, this strategy doesn’t exclude significant backing for fossil fuels or other businesses that don’t align with climate considerations. As recently as October 2019, six months after setting out on the green transformation of Weiman, Carlyle joined with oil veterans to launch Boru Energy, a venture targeting as much as $1 billion in fossil-fuel deals across sub-Saharan Africa. Carlyle made a 2018 investment in Neptune Energy, one of the world’s largest private fossil-fuel explorers and producers, and now touts the company’s below-average emissions. Carlyle likewise isn’t among the more than 3,150 signatories to the U.N.-backed Principles for Responsible Investment—although 450 signatories have some kind of private-equity exposure. (Rivals such as KKR and Neuberger Berman Group have signed.)Beyond the climate consequences of private-equity decisions, there’s also Carlyle’s origins as an investor in military communications and electronic-warfare systems. “You could apply the highest ESG principles to your investments into the defense industry,” says Carbon Tracker’s Campanale, “but they’re still going to be socially negative.”Starr says critics are justified in asking how Carlyle can at once back fossil fuels and tackle climate change. But in her view, there’s no longer a choice between making money and being green. Carlyle doesn’t like to divide companies into good and bad, she says, preferring to embrace a stripped-down definition of sustainability.“People hear the word sustainable and they think just green. Actually sustainable literally means the ability to persist over time,” Starr says. “If you are a company that's capturing consumer preferences, if you're the company that has the best shelf space and you're the company that is creating the best goods that customers are going to have loyalty to, that's a much more sustainable business model.”From that perspective, it may not matter much to Carlyle executives that natural cleaning products aren’t always better for the environment than petrochemical products. Tom Welton, a professor of sustainable chemistry at Imperial College London, has worked on assessments of the environmental footprint of cleaning goods. Often, he finds, what matters most is how consumers use it—whether we fill up the washing machine with excess detergent matters more than the detergent’s formula. Consumers tend to focus more on ingredients than packaging materials, manufacturing practices and transportation, all of which can give a “natural” cleaning product more environmental cost than a synthetic alternative.Still, consumer demand for organic and sustainable brands had been growing before the global pandemic, and market researchers Nielsen project more growth in the future. At the start of the outbreak, Weiman refocused its attention on products that could kill the coronavirus but says it remains committed to its new green plan.A year after Carlyle took over, the firm reports that 27% of Weiman’s sales are green products—up from zero at the start. The board of the cleaning-products company approved a sustainability strategy to boost product stewardship and cut the manufacturing footprint while advancing community engagement. There’s now a sustainability update at each board meeting. Ingredients have been changed and disclosures improved. Weiman now counts four products certified as “EPA Safer Choice,” and the goal is to reach 30 by October. Target bestowed its “Target Clean” icon to all nine Weiman items it stocks.Of course, the investment in Weiman is just a tiny fraction of Carlyle’s portfolio. It’s one small example of the influence of private equity.(Adds a statement about Carlyle Group’s responsible investing guidelines in the fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Target (TGT) has been directing resources toward digitization in order to better engage with customers, augmenting supply chain and concentrating on improving financial flexibility.
The 15 Percent Pledge focuses on a tangible goal — getting big box stores to commit to dedicating 15% of its shelf space to Black-owned businesses. The problem is getting Black entrepreneurs to the level of scalability.
On Friday, a number of major public corporations across a variety of industries will observe Juneteenth as a company holiday.
Target (TGT) increases minimum wage from $13 to $15 per hour and announces a $200 one-time recognition bonus to frontline store and distribution center hourly staff.
The Target (NYQ:TGT) share price is currently trading at 118.27. But given the volatile market conditions and uncertain economic outlook, the question now is w...
Shares in Target (NYQ:TGT) are currently trading at 118.27, but a key question for investors is how much the current economic uncertainty will affect the price...
Target (NYSE: TGT) is taking bigger and more lasting steps toward boosting compensation for its employees. Target is giving one-time bonuses of $200 for its store and distribution center hourly workers, too. It is making healthcare coverage easier to access without economic hardship in what the chain has called "a stressful year for the country."
In a bid to bolster presence in the global online retail market, Alphabet's (GOOGL) division Google, in collaboration with Carrefour, launches a new grocery shopping service in France.
With the job market kicking back into gear after the worst of the COVID-19 pandemic, Target looks to attract new workers to meet demand.
The amount that U.S. shoppers spent online during the first two full months of the COVID-19 pandemic surpassed their online spending for the 2019 holiday shopping season.