Target shares plunge as holiday sales miss estimates on weakness in toys and electronics

[Omaha Steve]

Source: CNBC

By Lauren Thomas & Courtney Reagan

Target was expected to be a winner this holiday season, amidst a sea of disappointing reports. But the big-box retailer said Wednesday that its holiday sales were weaker than planned.

Its shares tumbled more than 8% on the news. Walmart, which hasn’t reported holiday results, also traded lower. Its stock was last down about 2%.

Target said its same-store sales during November and December were up just 1.4%, compared with growth of 5.7% a year earlier.

The company said that, despite missing the mark, it is maintaining a prior outlook for fourth-quarter earnings. It also said in a press release that the fourth quarter of 2019 remains on track to mark Target’s eleventh consecutive quarter of same-store sales gains.

Read more: https://www.cnbc.com/2020/01/15/target-tgt-holiday-sales-2019-fall-short-of-estimates.html

[oldsoftie]

1. And people will be complaining about their property taxes rising after stores close

I only buy things online that i cannot find locally. Most stores will match prices if you find something cheaper.
And i DONT use Amazon for any purchases.
Of course my rant doesnt apply to those who cannot get out on their own.

[bucolic_frolic]

2. I can't find beans in TarJAY

I think they're catering to 30 somethings. I find the departments with few offerings (no depth), and especially don't like their mens department. It's not worth my time going there.

[dalton99a]

7. Their new focus is on millennials

[Rorey]

3. I predict that Target will be fine

Target has been making progressive moves to keep up with the changing times.

Personally, I like to shop in store, but I'm at a point in my life where I have ample time to do so.

[Miguelito Loveless]

4. If only Baby Yoda had been ready in time

[Codeine]

8. Can you imagine?

It would have made the days of fistfighting over Cabbage Patch dolls look tame.

[oasis]

5. Target will still be around , but employees can forget about getting raises. nt

[Javaman]

6. time for the vulture capitalists to sweep and "save" them. nt