Target sounds the alarm bell on holiday shopping

CNN Business11-20

New York CNN — Target is expecting a surprisingly weak holiday shopping season, a warning sign for the retail industry. The company forecast Wednesday ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTarget sounds the alarm bell on holiday shopping\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-20 20:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://edition.cnn.com/2024/11/20/investing/target-stock-earnings-holiday/index.html><strong>CNN Business</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>New York\nCNN\n         — \n    \n\n\n            Target is expecting a surprisingly weak holiday shopping season, a warning sign for the retail industry.\n    \n\n            The company forecast Wednesday ...</p>\n\n<a href=\"https://edition.cnn.com/2024/11/20/investing/target-stock-earnings-holiday/index.html\">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":"LU1069344957.HKD","symbol_name":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (HKD) INC","start_time":0,"source_url":"https://edition.cnn.com/2024/11/20/investing/target-stock-earnings-holiday/index.html","article_id":"2484157721","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2484157721","pubTimestamp":1732104128,"sourceInfo":{"source_id":"cnn_highlight","name":"CNN Business"},"weMediaInfo":null,"summary":"Target is expecting a surprisingly weak holiday shopping season, a warning sign for the retail industry.The company forecast Wednesday that sales during the final quarter of the year will be flat, and Target lowered its profit forecast. Target also reported a sluggish sales increase of just 0.3% during its latest quarter.Target is a bellwether for consumers’ spending habits and the retail sector as a whole, and the bad news dragged rivals’ stocks lower, too, Wednesday. The holiday shopping season is pivotal for retailers. While Target can survive a weak holiday season, many smaller companies depend on strong sales during the holidays.Target is struggling because its core middle-class customer base has been strained by higher prices and pulled back on discretionary goods like home decor, electronics and nonessential clothing in favor of groceries and everyday essentials.Target has cut prices on thousands of items in recent months to draw shoppers, but that had limited impact on sales.","collect":0,"end_time":0,"defaultTopTitle":"cnn.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1069344957.HKD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (HKD) INC","LU2125154935.USD":"ALLSPRING (LUX) WF GLOBAL EQUITY ENHANCED INCOME \"I\" (USD) INC","LU1323610961.USD":"UBS (LUX) EQUITY SICAV - LONG TERM THEMES (USD) \"P\" (USD) ACC","COST":"好市多","LU2361044949.HKD":"WELLINGTON US QUALITY GROWTH \"A\" (HKD) ACC","LU0471298694.HKD":"BGF NUTRITION \"A2\" (HKD) ACC","LU0175139822.USD":"AB FCP I Global Equity Blend A USD","LU0314104364.USD":"MANULIFE GF AMERICAN GROWTH \"AA\" (USD) INC","LU2361044865.SGD":"WELLINGTON US QUALITY GROWTH \"A\" (SGDHDG) ACC","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","LU1814569148.SGD":"WELLINGTON GLOBAL QUALITY GROWTH \"D\" (SGDHDG) ACC","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","BK4588":"碎股","LU2505996681.GBP":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (GBPHDG) INC","LU0289960550.SGD":"AB FCP I - GLOBAL EQUITY BLEND PORTFOLIO 'A' (SGD) ACC","IE000M9KFDE8.USD":"NEUBERGER BERMAN US LARGE CAP VALUE \"A\" (USD) ACC","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU1267930490.SGD":"TEMPLETON GLOBAL EQUITY INCOME \"AS\" (SGD) INC A","LU0149725797.USD":"汇丰美国股市经济规模基金","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","BK4155":"大卖场与超市","BK4581":"高盛持仓","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU1496350171.SGD":"FRANKLIN DIVERSIFIED BALANCED \"A\" (SGDHDG) ACC","LU1585245621.USD":"EASTSPRING INV GLOBAL LOW VOLATILITY EQUITY FUND \"A\" (USD) ACC B","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","WMT":"沃尔玛","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","LU0265550359.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A2\" (USD) ACC","LU1069347547.HKD":"AB SICAV I - GLOBAL VALUE PORTFOLIO \"AD\" (HKD) INC","IE00B5TLWC47.USD":"BNY MELLON LONG-TERM GLOBAL EQUITY \"B\" (USD) ACC","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","IE0008368304.USD":"STEWART INVESTORS WORLDWIDE LEADERS SUSTAINABILITY FUND \"I\" (USD) ACC","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU0265550946.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A5\" (USD) INC","LU2430703178.SGD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (SGDHDG) INC","LU0385154629.USD":"贝莱德营养科学基金A2","LU2430703251.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (USD) INC","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU2461242641.AUD":"WELLINGTON US QUALITY GROWTH \"A\" (AUDHDG) ACC","LU1066051811.HKD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (HKD) INC","BK4532":"文艺复兴科技持仓","LU0079474960.USD":"联博美国增长基金A","LU2360032135.SGD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (SGDHDG) INC","LU0471298777.SGD":"Blackrock Nutrition A2 SGD-H","LU2210150020.SGD":"Natixis Thematics Subscription Economy R/A SGD"},"translate_title":"塔吉特敲响假日购物警钟","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WMT":1,"COST":1},"content_text":"New York\nCNN\n         — \n    \n\n\n            Target is expecting a surprisingly weak holiday shopping season, a warning sign for the retail industry.\n    \n\n            The company forecast Wednesday that sales during the final quarter of the year will be flat, and Target lowered its profit forecast. Target also reported a sluggish sales increase of just 0.3% during its latest quarter.\n    \n\n            Shares of Target (TGT) plunged as much as 20% during pre-market trading Wednesday.\n    \n\n            Target is a bellwether for consumers’ spending habits and the retail sector as a whole, and the bad news dragged rivals’ stocks lower, too, Wednesday. The holiday shopping season is pivotal for retailers. While Target can survive a weak holiday season, many smaller companies depend on strong sales during the holidays.\n    \n\n            Target is struggling because its core middle-class customer base has been strained by higher prices and pulled back on discretionary goods like home decor, electronics and nonessential clothing in favor of groceries and everyday essentials.\n    \n\n            But Target has also slumped because of its merchandise mix and higher prices compared to rivals like Walmart. The chain stocks more non-essential merchandise compared to competitors such as Walmart (WMT) and Costco (COST). More than half of Target’s merchandise is discretionary, making it more susceptible than its rivals to swings in consumer sentiment.\n    \n\n            Target in recent years has added more food and essentials to its stores, but still trails Walmart, which gets around half of sales from groceries.\n    \n\n            Target has cut prices on thousands of items in recent months to draw shoppers, but that had limited impact on sales.\n    \n\n            While Target is struggling, Walmart is surging.\n    \n\n            Walmart’s US sales at stores open for at least a year grew 5.3% last quarter compared with the year prior, the company said Tuesday, and its profit grew 8.2% last quarter. Walmart raised its financial outlook, a signal it expects a strong holiday shopping season.\n    \n\n            Walmart said it gained market share last quarter, driven “primarily from upper-income households.” Households making more than $100,000 a year accounted for 75% of the company’s gains.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"economic","news_rank":0,"symbols":[],"gpt_button":0},"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":"4.29.3","shortVersion":"4.29.3","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/2484157721"}