Target's price-lowering gambit is seen as a long-term winner. Will other retailers follow?

seekingalpha05-20

Target (NYSE:TGT) shook up the retailer sector on Monday by announcing that it is cutting prices on thousands of items in high-frequency categories like food, beverage, and household essentials. The ...

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Will other retailers follow?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-20 23:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4108387-targets-price-lowering-gambit-is-seen-as-a-long-term-winner-will-other-retailers-follow><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Target (NYSE:TGT) shook up the retailer sector on Monday by announcing that it is cutting prices on thousands of items in high-frequency categories like food, beverage, and household essentials. The ...</p>\n\n<a href=\"https://seekingalpha.com/news/4108387-targets-price-lowering-gambit-is-seen-as-a-long-term-winner-will-other-retailers-follow\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4094","symbol_name":"服装零售","start_time":0,"source_url":"https://seekingalpha.com/news/4108387-targets-price-lowering-gambit-is-seen-as-a-long-term-winner-will-other-retailers-follow","article_id":"2436102059","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1397974434/image_1397974434.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2436102059","pubTimestamp":1716219160,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Target (NYSE:TGT) shook up the retailer sector on Monday by announcing that it is cutting prices on thousands of items in high-frequency categories like food, beverage, and household essentials. 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The retail giant estimated that the pricing actions will save customers millions this summer. Jefferies analyst Corey Tarlowe thinks the decision is not necessarily bad news for investors because Target (TGT) may end up adding market share and see incremental sales growth over time. \"Although the pricing actions could hinder margins, we believe that the co. has efficiency offsets which could drive more profitable growth ahead,\" noted Tarlowe. Crucially, Jefferies thinks Target (TGT) is likely to back its prior full-year guidance when it reports earnings on May 22. While Target (TGT) is expected to report same-store sales dropped about 3.7% year-over-year during the first quarter, the Minneapolis-based company has been impressing investors on the margin line in recent quarters. Tarlowe also said that, from a valuation perspective, TGT is still trading below its historical averages. \"On a FY'2 P/E basis, TGT is trading at 15.1x vs. a 5-year average of 16.5x and at a 9.2x discount to WMT vs. a 5-year average of 5.8x,\" he noted. Shares of Target (TGT) were down 1.45% in late morning trading on Monday. Discounters Dollar Tree (DLTR) was 1.51% lower and Dollar General (DG) peeled off 1.55% BBB Foods (TBBB) showed a 1.95% decline, TJX Companies (TJX) was down 1.45%, Big Lots (BIG) shed 2.35%, and Ross Stores (ROST) trickled 0.75% lower following the Target (TGT) announcement. In the grocery sector, Grocery Outlet Holdings (GO) stood out, with a 2.87% decline. While those drops may not be directly related to the Target (TGT) news, the stocks are sensitive to heightened promotional activity in general. Walmart (WMT) edged 0.15% higher. The Bentonville retail behemoth has traditionally had slightly lower prices than Target (TGT) on the same basket of consumer staples products.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.0","shortVersion":"4.24.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2436102059"}