Posted on 03/03/2015 1:49:42 PM PST by Red Badger
Target's chief executive, Brian Cornell, said Tuesday the retailer will cut several thousand jobs within the next two years as part of a $2 billion cost savings plan.
The company also announced 2015 guidance of $4.45 to $4.65 adjusted earnings per share. Wall Street expected Target's guidance at $4.50 adjusted earnings per share.
Target also expects digital sales to increase 40 percent and same-store sales between 1.5 percent and 2.5 percent, with modest improvement in gross margins and expense rates. It also expects sales to grow between 2 and 3 percent during the year.
The company's stock closed at $78.02, or 0.44 percent up.
Regarding 2016, Target expects earnings per share to grow at a 10 percent yearly rate and a 5 to 10 percent dividend growth rate.
Gee, couldn’t have anything to do with business dropping off due to their active support of gay marriage or anything, could it?
Our Target does very good business. It’s better than Wal-Mart, of which there are two near me. The “urban” one becomes the Zombie Apocalypse once the sun goes down, and the “rural” one is where the white trash take their kids to discipline them.
Target attracts a different clientele, and the better looking ladies shop there. Coincidently, so do I.
Could be wrong, but it seems to be a pattern (and a good one) that Corporations who put their liberal politics out there for everyone to hear often end up in financial trouble. Target is a major advocate for gay marriage, markets “50 Shades of Grey” merchandise, etc. Remember also J.C. Penney and their pro-gay advertising cost them customers and profitability. I haven’t shopped at Target in a long time.
Ditto on both counts. The only time I ever see them busy is during the weekends and around Christmas.
LOL We’ll know they’re in DEEP trouble when they open a real sporting goods department and sell firearms/ammo. Of course not doing so from the start was likely more of an ideological based decision, so they’d probably go bankrupt before capitulating on that point.
And, yes, it is a more savory class of shoppers than Wal-Mart.
Nah, it’s never the policies................ever.....................
They’re laying off with all that growth? Why?
Ours has a STARBUCKS.................double reason not to go..................
Target has a good product selection, but their prices are just a higher than I really want at times.
Probably so they can KEEP growing.....................
I bought ammunition at Target back in the 70s.
Would those be Obama jobs?
It seems to me this is the kind of job growth that Obama has brought to the US during his presidency.
Negative job growth.
Don’t forget they’re anti-gun too.
You’re correct, of course.
But the Walmart/Target/Costco/Amazon threads always bring out the fun here.
Negative job growth is recession..................
I don’t understand your post
http://investors.target.com/phoenix.zhtml?c=65828&p=irol-newsArticle&ID=2019880
Fourth quarter comparable sales increased 3.8 percent, reflecting a 3.2 percent increase in comparable transactions. Digital channel sales contributed 0.9 percentage points to comparable sales growth.
Target’s fourth quarter 2014 Adjusted EPS of $1.50 was above the company’s most recent guidance of $1.43 to $1.47 per share.
Target’s full-year comparable sales grew 1.3 percent. Digital channel sales growth of more than 30 percent contributed 0.7 percentage points to 2014 comparable sales growth.
Target paid dividends of $1.2 billion in fiscal 2014, an increase of 19.8 percent above 2013.
Well, as long as you shrink the denominator at the same time,
you can say our unemployment rate is the same as during the Bush years!
Doesn’t look like business is dropping, just cutting costs. There were a lot of changes to their computers after the credit card fiasco, if they did it right a lot of stock handling should have gotten more efficient, which means less people needed.
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