08/06/2022 09:21

Target Inc (TGT US)

US discount food and merchandise retailer Target Inc (TGT US) missed earnings expectations badly in May leading to a crash style plunge in the stock, last night it downgraded again as consumers are already migrating away from discretionary items to the less profitable day to day required staples. The failure to execute well in the increasingly challenging conditions has seen analysts become nervous about the...

Read more

20/05/2022 09:25

Can tourism withstand the selling hitting discretionary spending stocks?

As we’ve touched on earlier Target has led a sharp pullback in US Consumer Staples stocks with the selling flowing through to similar local names plus retail stocks were also caught up in the downdraft e.g. yesterday we saw Wesfarmers (WES) -7.8%, JB Hi-Fi (JBH) -6.6%, Metcash (MTS) -6.5% and Woolworths (WOW) -5.6%. MM has successfully avoided retail stocks this year but we are holding some supermarket stocks + Wesfarmers...

Read more

19/05/2022 17:23

Target (TGT US) $161.61

TGT US -25%: The big US retailer announced higher costs and weakening demand in an earnings update overnight that prompted a 25% drop in the shares which flowed through to weakness in our retail sector today. Their CEO Brian Cornell said that profit will amount to only about 6% of sales this year, 2 percentage points below the previous forecast, with the company’s first-quarter adjusted profit missing...

Read more