{"id":128158,"date":"2024-11-20T21:10:23","date_gmt":"2024-11-20T14:10:23","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=128158"},"modified":"2024-11-20T21:10:23","modified_gmt":"2024-11-20T14:10:23","slug":"target-sounds-the-alarm-bell-on-holiday-shopping","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=128158","title":{"rendered":"Target sounds the alarm bell on holiday shopping"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div data-editable=\"content\" itemprop=\"articleBody\" data-reorderable=\"content\">\n<p>\n    <cite class=\"source__cite\"><br \/>\n      <span class=\"source__location\" data-editable=\"location\">New York<\/span><br \/>\n      <span class=\"source__text\" data-editable=\"source\">CNN<\/span><br \/>\n        \u00a0\u2014\u00a0<br \/>\n    <\/cite>\n<\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3pt7xng005l26ozhyv7h9us@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Target is expecting a surprisingly weak holiday shopping season, a warning sign for the retail industry.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3pt7zh400003b6ml07cz1aa@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            The company forecast Wednesday that sales during the final quarter of the year will be flat, and Target lowered its profit forecast. Target also reported a sluggish sales increase of just 0.3% during its latest quarter.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3ptak4c00083b6m1zy65m3g@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Shares of Target (<a href=\"https:\/\/www.cnn.com\/markets\/stocks\/TGT\">TGT<\/a>) plunged as much as 20% during pre-market trading Wednesday.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3ptptpp000q3b6m52a7uowa@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Target is a bellwether for consumers\u2019 spending habits and the retail sector as a whole, and the bad news dragged rivals\u2019 stocks lower, too, Wednesday. The holiday shopping season is pivotal for retailers. While Target can survive a weak holiday season, many smaller companies depend on strong sales during the holidays.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3ptwdyv00123b6mrzyg82qd@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Target is struggling because its core middle-class customer base has been strained by higher prices and pulled back on discretionary goods like home decor, electronics and nonessential clothing in favor of groceries and everyday essentials.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3ptrzjt000v3b6mfucrb2wb@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            But Target has also slumped because of its merchandise mix and higher prices compared to rivals like Walmart. The chain stocks more non-essential merchandise compared to competitors such as Walmart <a href=\"https:\/\/money.cnn.com\/quote\/quote.html?symb=WMT&amp;source=story_quote_link\">(<\/a><a href=\"https:\/\/www.cnn.com\/markets\/stocks\/wmt\">WMT<\/a><a href=\"https:\/\/money.cnn.com\/quote\/quote.html?symb=WMT&amp;source=story_quote_link\">)<\/a> and Costco <a href=\"https:\/\/money.cnn.com\/quote\/quote.html?symb=COST&amp;source=story_quote_link\">(<\/a><a href=\"https:\/\/www.cnn.com\/markets\/stocks\/cost\">COST<\/a><a href=\"https:\/\/money.cnn.com\/quote\/quote.html?symb=COST&amp;source=story_quote_link\">)<\/a>. More than half of Target\u2019s merchandise is discretionary, making it more susceptible than its rivals to swings in consumer sentiment.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3pu0j5j0004356mogqhgbcc@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Target in recent years has added more food and essentials to its stores, but still trails Walmart, which gets around half of sales from groceries.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3ptgxki000c3b6mcaibez3e@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Target has <a href=\"https:\/\/www.cnn.com\/2024\/10\/22\/business\/target-price-cuts\/index.html\">cut prices<\/a> on thousands of items in recent months to draw shoppers, but that had limited impact on sales.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3ptn4t8000k3b6m2l07hdip@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            While Target is struggling, <a href=\"https:\/\/www.cnn.com\/2024\/11\/19\/investing\/walmart-stock-earnings\/index.html\">Walmart is surging<\/a>.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3ptpftf000n3b6mfitk077i@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Walmart\u2019s US sales at stores open for at least a year grew 5.3% last quarter compared with the year prior, the company said Tuesday, and its profit grew 8.2% last quarter. Walmart raised its financial outlook, a signal it expects a strong holiday shopping season.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3ptrz3b000t3b6mpm6na1rh@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Walmart said it gained market share last quarter, driven \u201cprimarily from upper-income households.\u201d Households making more than $100,000 a year accounted for 75% of the company\u2019s gains.\n    <\/p>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cnn.com\/2024\/11\/20\/investing\/target-stock-earnings-holiday\/index.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York CNN \u00a0\u2014\u00a0 Target is expecting a surprisingly weak holiday shopping season, a warning sign for the retail industry. The company forecast Wednesday that sales during the final quarter &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=128158\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-128158","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/128158","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128158"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/128158\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}