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TGT

Target Corporation

5/22/2013, 8:23 PM ET

Quote & Headlines Market Currents StockTalk

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Wednesday, May 22, 2:10 PM Heard during Target's (TGT -4.9%) earnings call: 1) The company justifies its stance that weather had a big impact in Q1 by noting sales in weather-neutral areas such as Florida held up better than the Midwest and East Coast. 2) The number of customers taking advantage of the retailer's price match guarantee hasn't changed materially either in stores or online. 3) "Sales and traffic in our digital channels continued to grow at a robust pace." Backing out sensitive categories, the growth rate was 20% in digital channels. (transcript) Comment! [Consumer]
Wednesday, May 22, 9:38 AM Retail sales in Canada were flat in March to just miss analyst estimates calling for a minor gain, according to Statistics Canada. The biggest category bump was clothing and clothing accessories which rose 3.1% and which included some sales rung up by Target (TGT -3.3%). The retailer gave investors their first look at sales in Canada with its Q1 report, showing solid revenue but also high setup costs. Comment! [Consumer, On the Move]
Wednesday, May 22, 7:55 AM More on Target's (TGT) Q1: After guiding for flat comparable store sales just a little while ago, the 0.6% dip looks troubling to retail analysts. The number of transactions processed fell 1.9% during Q1, but the average transaction amount rose 1.3%. REDcard penetration rose impressively to 17.1% from 11.6% a year ago. Total store count +6 M/M and +20 Y/Y (not including Canada). TGT -2.0% premarket. (PR) Comment! [Consumer, Earnings]
Wednesday, May 22, 7:45 AM More on Target's (TGT) Q1: The retailer cites soft sales in apparel and other seasonal and weather-sensitive categories as part of the reason for the mild Y/Y gain and slight top-line miss. Comparable-store sales in U.S. stores were off 0.6% during the period. Canada generated sales of $86M with a gross margin rate of 38.4%, though start-up expenses kept the launch of the 24 stores in the nation from adding to profitability. For full-year 2013, EPS of $4.70-$4.90 is forecast - lower than Target's prior guidance of $4.85-$5.05. (PR) Comment! [Consumer, Earnings]
Wednesday, May 22, 7:31 AM Target (TGT): Q1 EPS of $1.05 beats by $0.13. Revenue of $16.7B (+1% Y/Y) misses by $0.12B. (PR) 3 Comments [Earnings, Breaking News]
Wednesday, May 22, 12:05 AM Notable earnings before Wednesday’s open: AEO, BAH, DSX, ELOS, EV, LOW, SPLS, TGT, TOL, ZLC Comment! [Earnings]
Tuesday, May 21, 5:30 PM Notable earnings before Wednesday’s open: AEO, BAH, DSX, ELOS, EV, LOW, SPLS, TGT, TOL, ZLC Comment! [Earnings]
Monday, May 20, 11:15 AM Pinterest says it's in partnership with several retail brands including Target (TGT -0.8%), Netflix (NFLX +0.3%), and Sony (SNE +2.8%) to include more detailed information on product pins. The photo-sharing website is starting to draw more interest from retailers due to its higher signal-to-noise ratio and average user income than other social networking sites. Comment! [Consumer]
Friday, May 17, 11:16 AM Target (TGT +0.5%) tests a new video streaming service with employees as it mulls over entering the streaming game full force. The company says Target Ticket beta already has 15K TV and movie titles in its library. Comment! [Consumer]
Thursday, May 16, 2:27 PM Wal-Mart vs. Target in Canada: The Q1 report released by Wal-Mart (WMT -2.2%) is one of the first indications of how Target's (TGT -0.7%) expansion into Canada is playing out for its rival. During the earnings call, execs didn't say the T-word (and the company won't take analyst questions), but they did cite lower traffic and a decline in operating income as well as noting Wal-Mart didn't leverage expenses in the nation. (transcript) 1 Comment [Consumer]
Wednesday, May 15, 11:05 AM Privately-owned Bellisio Foods acquires Overhills Farms (OFI +13.8%) for $5.00 a share in a $80.9M deal slated to close during FQ4. The marriage of the two companies could have an interesting read-through to Target (TGT +0.7%) which is a major customer of Overhill Farms, and in theory, could easily boost its selection of food items after the merger finalizes. Comment! [Consumer, M&A]
Monday, May 13, 2:12 PM Retail analysts think the first version of Target's (TGT -0.8%) Cartwheel service looks a little too complicated to catch on with a large numbers of users. The buzz is that the integration with Facebook looks appealing, but the mobile app won't be a retail game-changer. Comment! [Consumer]
Wednesday, May 8, 7:26 AM Target (TGT) introduces a new service that will integrate social networking with discounting. Shoppers can select deals online and then use the selected barcodes at stores to receive reduced prices. The company doesn't rule out the possibility that the service will allow online shoppers to redeem coupons on the Target website in the future, but for now a store visit is required. Comment! [Consumer]
Tuesday, May 7, 1:47 PM Target's (TGT +0.9%) expansion in Canada continues with a westward push that will see 22 stores open in Alberta, Manitoba, and British Columbia. The company wants to have a total of 124 stores up and running in Canada this year. Initial reports on Target's results in the nation have been positive with the retail name well-known, although the venture to the west is different because a much lower percentage of consumers engage in cross-border shopping. Comment! [Consumer]
Tuesday, May 7, 9:29 AM Retail sales numbers for April could be a tad weaker than expected after weekly reports from Redbook and ICSC-Goldman on chain store sales both came in a bit below expectations. Retail read-through: Weather and swings in gas prices seemed to impact store traffic to malls (KSS, DDS, JCP, LTD, GPS, ANF, AEO) and supercenters (WMT, COST TGT), but economists think consumer confidence on the high end (TIF, RL, SKS, COH, BBBY) just might be on the rise. Also, with online sales de-emphasized in the weekly chain store reports - Internet whiz kids Macy's (M) and Urban Outfitters (URBN) could still outperform even if mall parking lots aren't packed. 1 Comment [Consumer, U.S. Economy]
Monday, April 29, 7:23 AM Consumer spending watch: Gas prices are down 28% since February's peak and analysts see another 20% drop coming up in the next few months. A rough estimate of the impact of lower gas prices on consumer spending is that a dime drop translates into $13B back into the wallets of consumers. Companies that could see a boost from the trend include Wal-Mart (WMT), Target (TGT), and Costco (COST) - while ETFs such as Consumer Discretionary Select Sector SPDR (XLY), Vanguard Consumer Discretionary (VCR), PowerShares Dynamic Consumer Discretionary (PEZ), and Market Vectors Retail (RTH) could also benefit. 3 Comments [Consumer, Quick Ideas]

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