Posted on 05/18/2022 5:47:41 AM PDT by janetjanet998
The scary arm of inflation has found its way to the financials of consistently top performing Target. Target reported a wide first quarter earnings miss on Wednesday as cost increases in areas such as freight and inventory surged, not unlike what rival Walmart shared on Tuesday. The profit shortfall marked the first miss for Target versus analyst estimates since the third quarter of 2018, according to Bloomberg data. "We never expected the kind of cost increases in freight and transportation that we're seeing right now," Target chairman and CEO Brian Cornell told Yahoo Finance.
(Excerpt) Read more at finance.yahoo.com ...
Target estimates it may see an additional $1 billion in freight and transportation costs this year
Target is “woke”.
Ergo, ISGAS. (I Scarcely Give A S...)
Target is just failing as a brand.
Walmart got clocked as well. Woke or not, target has been a massive performing stock over the past six months or so.
Walmart said they over hired and under sold
The “experts” never see it coming—that is what makes them “experts”!
“Walmart said they over hired and under sold”
Though the result(s) might be similar, and one would think the two companies would be subject to precisely the same economic conditions/changes. The stories are a lot different, though. That could just be differing verbal style of the CEOs.
Target stock is down 24% this morning.
Wow.
Maybe there isn’t great demand for their new line of testicle-tucking underwear.
“We never expected the kind of cost increases in freight and transportation that we’re seeing right now,” Target chairman and CEO Brian Cornell
You’re obviously not the right person for the job! The FIRST thing ‘your’ _Resident did was cut off our fuel supplies, knowing that the price of fuel effects the price of EVERYTHING.
Does this guy have a Business Degree of some kind? Yeesh!
Target stores near me are constantly out of stock on things I am looking for - things they used to always have in abundance like water and dog food. They attempt to cover up the shortages by filling in the shelves with other products that are not moving, but my impression is that they have never come all the way back from the Great Toilet Paper Crisis of 2020.
Too bad, so sad! I hope they are out on the street soon.
AFTER watching the Canadian trucks revolt-—what did they think was happening????
OR maybe it’s because they have done much to tick off a vast majority of Americans who won’t shop there anymore.
I am selling my stock and just holding. These 6% to 9% swings going on are nerve racking. If my AMD had gone down 6% as it did today just last week when it was $83.95 the stock would be in the 70’s.
Yesterday it was $102.47 and today it is $96.28 and after hours shows another $2.28....!
The next series of bad economic news and the FED raising interest rates will sink the stocks much more.
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