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    Super Moderator Newmexican's Avatar
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    TARGET STOCK DROPS AGAIN. SALES DOWN. CEO IN DENIAL AS TO WHY.

    Target doesn't have anything that I can't find somewhere else.....

    TARGET STOCK DROPS AGAIN. SALES DOWN. CEO IN DENIAL AS TO WHY.


    BY ADMIN/
    MAY 18, 2016/ ECONOMY



    Target’s (TGT) first-quarter performance and expectation of lower sales in the second quarter scared investors Wednesday.

    The company said it expects sales in the second quarter to be flat to down 2%.

    Target shares closed down 7.6% Thursday at $68.00.

    “We continue to see consumers spend cautiously,” CEO Brian Cornell said on a call with media. “It’s been a very wet and cold start to the year in the Northeast, and it’s been reflected in our sales.”

    A prominent petition against Target over the transgender bathroom policy it announced last month did not lead to any major fallout, Cornell said.

    “We’ve tracked the feedback carefully,” he said. “We have not seen a material nor measurable impact on our business.”

    Target sparked both outrage and an outpouring of support when it publicly announced that transgender customers and employees are welcome to use store bathrooms of the gender they identify with. A petition signed by people pledging to boycott Target over the policy quickly gained hundreds of thousands of signatures. It currently stands are more than 1.2 million signatures.
    http://dennismichaellynch.com/target...ial-as-to-why/

  2. #2
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    Target Sales Drop Amid Transgender Promotion, Consumer Boycott, $10 Billion Stock Crash

    by Warner Todd Huston19 May 2016Minneapolis, MN0

    Retail giant Target is losing sales and may be on track for another major stock-drop in the second quarter, analysts say, amid a growing boycott caused by the company’s transgender friendly policies.

    The company’s second-quarter sales, from April to June, may drop as much as 2 percent compared to the prior year, executives told reporters and Wall Street analysts. That’s “horrendous,” said Jim Cramer, founder of the stock-market website, TheStreet.com

    The earnings prediction comes a month after the left-leaning company announced April 19 that it would allow men claiming to be women to use the women’s bathrooms and changing rooms at its stores. The decision has sparked a boycott petition effort that garnered over 1.2 million signers in only a week.

    Target executives deny the pro-family consumer boycott is making a significant difference. But, according to TheStreet.com, the business-news website,
    “We have seen a noticeable slowdown post-Easter,” Target CFO [chief financial officer] Cathy Smith said on a call with reporters. Target’s CEO Brian Cornell, who was also on the call, blamed the slowdown on unfavorable weather trends in the Northeast and volatile economic trends.
    Cornell also said the company has not seen a “material” impact to its overall business from the protests, but has seen some hit to sales in a “handful” of stores. He declined to quantify the extent of the hit, however.
    According to the Associated Press, Target expected a sales growth in new stores to hit 1.6 percent in the first quarter, but only realized a 1.2 percent growth.

    This week, the company announced a reshuffle in the executive office.


    Stock-pickers are getting nervous about the company’s executives. “Target is now a question… because the degredation of Target from month to month to month has them confused,” said Jim Cramer, founder of TheStreet.com. “Apparel [sales] is not good, electronics is not good, the [earnings] guidance is horrendous,” he said.

    Amid Target’s troubles, Costco and the Walmart company will likely gain, he said.

    Target’s stock has fallen 20 percent — from $84 per share to $67 per share — since it imposed the pro-transgender policy on its customer base of families. That loss has chopped roughly $10 billion from the overall shareholder value of the company, according to a chart produced by Yahoo.com

    The AP notes that Target isn’t the only retailer to see a drop in profits with Nordstrom, T.J. Maxx, Walmart, J.C. Penny, Khol’s and Macy’s all seeing a downturn as Obama’s economy continues to struggle. But with the added pressure of the boycott movement, target’s fall has been worse than its rivals.

    http://www.breitbart.com/big-government/2016/05/19/target-earnings-drop-protests-rise/
    Last edited by artist; 05-23-2016 at 06:30 PM.

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