Take notes investors in retail stocks — you are about to see earnings reports from the industry in May like you have never, ever seen before in your investing lifetime.
In both instances, Target revealed a business experiencing wild swings in sales by major shopping departments and a serious fundamental shift in how goods and services are consumed during a nationwide health pandemic. The shopping shifts from stores and online to primarily online only has made Target a less profitable business — which is causing uncertainty on profits to persist beyond the first quarter.
Amid two intra-quarter business updates, it’s clear Target lacks visibility into weekly sales as a worried nation — in many cases dealing with job loss — stays home. The U.S. is in a severe recession, and households have now begun to cut back after panic loading pantries in March. Those trends alone means it could be hard for Target to serve up financial guidance again anytime soon to regain investor confidence.
Unofficial Sweet Caroline PSA: Please Sanitize!
Its called using the stimulus for good things lol got to have TV notice all the food being bought lol
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Source: CNBC - 🏆 12. / 72 Read more »