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Retail activity falls; Target a focus

  • The number of transactions at Target (TGT) stores slid 3-4% at the weekend compared with the same pre-Christmas period last year, retail consultancy Customer Growth Partners estimates.
  • The fall comes after Target disclosed that hackers accessed the information on up to 40M payment cards between Nov. 27 and Dec. 15 by infiltrating swipe machines at checkout counters.
  • The drop may be part of an overall trend: RetailNext estimates that sales fell by a mid-single-digit percentage at brick-and-mortar stores on Friday and Saturday, although that doesn't include online sales. Store visits tumbled 7%. In response, retailers have been offering heavy discounts in order to lure shoppers.
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Comments (4)
  • tomlos
    , contributor
    Comments (1165) | Send Message
     
    At our recent target over the weekend I saw several people signing up for RedCards, so don't think there is a huge disruption going on. To be honest, the public is generally so unaware of what is going on around them, it's amazing.
    23 Dec 2013, 08:59 AM Reply Like
  • ROLLINGMEADOW
    , contributor
    Comments (33) | Send Message
     
    Gee do you think the weather on Friday and Saturday could have had anything to do with the lower transactions?
    23 Dec 2013, 11:09 AM Reply Like
  • Michael Hooper
    , contributor
    Comments (259) | Send Message
     
    Cold winter apparal is selling like crazy. Last year, winter apparel sales were terrible due to mild winter. Hats, gloves, coats and sweaters are selling. I was in Target and TJ Max over weekend, both were very busy. I used check, not credit card, to buy stuff at Target, which gave 10% discount. I think a lot of consumers are buying online, however, the only way I am going to have everything for Christmas now is to go to bricks and mortar stores.
    23 Dec 2013, 11:24 AM Reply Like
  • Portage, MI
    , contributor
    Comments (195) | Send Message
     
    I do agree with the comments above by tomios and ROLLINGMEADOW, however let us not forget that it is nearing "months end" and by this time most government entitlements ($ money for nothing) has already been used up. How much of a factor could that be ?
    23 Dec 2013, 11:28 AM Reply Like
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