Posted on 08/17/2022 7:39:48 AM PDT by Red Badger
Edited on 08/17/2022 8:37:48 AM PDT by Chris Robinson. [history]
NEW YORK – Target reported solid sales for the fiscal second quarter but its profit plunged nearly 90% after it was forced to slash prices to clear unwanted inventories of clothing, home goods and electronics.
In early June, Target warned that it was canceling orders from suppliers and aggressively cutting prices because of a pronounced spending shift by Americans as the pandemic eased.
(Excerpt) Read more at ksat.com ...
“...a pronounced spending shift by Americans as the pandemic eased.”
You’d think such a shift would be toward MORE spending, not less. Perhaps there’s something else at work? Like Brandonflation?
You bet my confidence wanes when I'm a guest and they don't invite me to stay for dinner or offer me the guest bedroom for the night.
"Guest" -- Bah! I'm a paying customer, NOT a "guest."
“...while low-income shoppers were feeling squeezed by higher inflation and were switching from deli meats to hot dogs and canned tuna.”
And those if us that can read the political tea leaves have stuck with our hot dogs and canned tuna since 2008, LOL!
Nice to see Target take it in the shorts. ;) The last time I bought anything there was in 2015 - new towels for the bathroom. (I happened to be there because I used their privately owned Optical doctor.)
Get woke, go broke...........................
For me, Target is clear across town and I have no reason to go there!........................
“aggressively cutting prices because of a pronounced spending shift by Americans as the pandemic eased”
Did *ALL* retailers experience this? Was it industry-wide or Target-specific.
Did their crack mgmt team simply make REALLY bad forecasts?
Typical Progressives; they place the blame external to their actions and decisions.
“[Walmart] said that higher-income shoppers were flocking to the discounter to save money on groceries...”
I was wondering why there was this sudden influx of Melania Trump look-a-likes wandering around my local Walmart in furs and pearls, looking dazed and confused, LOL!
Thank you for that.
For all the mud we sling at Walmart, they’re good at what they do. They know their markets and how to sense, adapt and respond.
Oh, and only token hints at being woke at Walmart versus all-in Target.
Yep, let's keep funding China-made products.
They had to layoff ‘The Help’......................
Why pay for something at Target when you can steal it at Walgreens?
“as the pandemic eased” is a pathetic BS excuse.
Did people stay home MORE and lock down MORE as the pandemic eased? Or did they finally lose their fear of going to stores and consequently shopped more?
That doesn’t pass any common sense smell test. It’s some PR flak conjuring up an excuse.
i show them the respect that they have earned
they get the one finger salute as i drive by
...from pandemic to recession in a single bound....its Super Brandon!!!!
Looking at Target’s clearance section lately I see a lot of Gay Pride month stuff and woke crap. It doesn’t sell.
Financial suicide to prevent business death from previously enacted business suicidal decisions.
HAH! kinda true, sadly.
Target will go the way of Kmart.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.