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Tuesday, February 23, 2010
Insecure Consumers Eclipse Target's Triumph
Forbes
In spite of earnings beat, retailer slides on dismal consumer outlook.
The brisk pace of holiday shopping at Target helped the retailer clear inventory and boost profits in the most recent quarter.
According to Brian Sozzi, an analyst with Wall Street Strategies, Target's latest quarter was boosted by sales of discretionary items like home furnishings and apparel, while clothing sales at Wal-Mart were flat.
The earnings beat underwhelmed investors, as shares of Target dipped 29 cents, or 0.6%, to $50.35 as news on consumer confidence's latest tumble outweighed the decent quarter.
Link to full article: http://www.forbes.com/2010/02/23/target-consumer-confidence-markets-equities-economy.html
Posted by Brian Sozzi, Research Analyst
Archives
8/20/2010 - Video: Retail for Sale: Time for Private Equity to Shop
7/21/2010 - Cola Wars: Coke vs. Pepsi
7/21/2010 - Earnings: Instant Reaction to Coca-Cola Earnings
6/4/2010 - Jewelry Retailers' Shares Gain On String Of Positive Results
6/4/2010 - Wal-Mart, Target divergence seen in first quarter
6/4/2010 - Retail Stocks Slide As Cautious Outlooks Concern Investors
6/4/2010 - Have Consumers Moved on From Discounters?
6/4/2010 - Wal-Mart profit rises, but US sales in squeeze
6/4/2010 - American Eagle's weak Q2 view drags down shares
6/4/2010 - The Rising Cost of Retail: Who Will Win?
6/4/2010 - May US retailers' sales lackluster; consumers wary
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6/4/2010 - Urban Outfitters' Q1 beat fails to impress investors
6/4/2010 - Express IPO shares get lukewarm reception
6/4/2010 - High on Lowe's
6/4/2010 - Home Depot 1Q Profit Rises 41%; Co Raises Full-Year View
6/4/2010 - Sears 1Q Profit Slides 39%, Hurt By Lower Margins
6/4/2010 - Euro worries stalk Guess, whose shares fall 7 pct
6/4/2010 - May Sales: What Retailers Aren't Saying
6/4/2010 - Retail Diamonds in the Rough
6/4/2010 - Wal-Mart execs to be scrutinized as shareholders seek views on bolstering US namesake business
5/11/2010 - Retailers Fall As April Same-Store Sales Disappoint
5/11/2010 - Coach Caters to Men With New NYC Shop
5/11/2010 - Don't Fret, Target's a Good Bet
5/11/2010 - US same-store sales disappoint
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