Is Target Going to Surprise on the Upside Tonight?
All eyes will be on $Target(TGT)$ when the department store chain announces its third-quarter earnings results before the US market opens tonight. Expectation is high on its earnings after $Wal-Mart(WMT)$ surpassed market's expectations in its earnings release and raised its full-year business outlook, lifting share price of America's largest retailer by over 6%.
Walmart is a bellwether for consumer spending, especially on groceries, and there are signs that even more well-to-do consumers are turning to the discount chain for groceries, as surging inflation has led to higher costs for daily expenses.
Target had suffered devastating crashes in its stock price after it missed its first-quarter and second-quarter earnings expectations, as the company had to offer steep discounts to offload excess inventory that was built in anticipation of supply chain disruptions during the early days of the pandemic. Re-opening of economies has however rendered a significant amount of the inventory irrelevant or outdated, and desperately looking for buyers. Target had to write off much of the inventory as a result, resulting in dismal results in the past 2 quarters.
Nevertheless, the company has since hinted that the inventory issues have eased. It remains to be seen on the extent that the retailer is able to pass on rising costs to consumers. With Walmart making headway, hopefully Target will be able to present a pleasant surprise to the market as well when it releases its results tonight!
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- eveev·2022-11-16Hope $Target(TGT)$ flies to the moon tonight!1Report
- 红金鱼辣椒·2022-11-16加油↖(^ω^)↗1Report
- Michelle Ong·2022-11-16Like back thanks1Report
- PandoraHaggai·2022-11-19Retail earnings are the ones I've been paying a lot of attention to lately.LikeReport
- Maria_yy·2022-11-19Hopefully, inflation won't affect TGT any more.LikeReport
- ElvisMarner·2022-11-19TGT did have a terrible first half.LikeReport
- HilaryWilde·2022-11-19Don't worry, I'm sure TGT won't let us down.LikeReport
- EvanHolt·2022-11-19Wal-mart did surprise investors.LikeReport
- Jontrade·2022-11-17oh noLikeReport
- 405fda16·2022-11-17[Like]LikeReport
- Teong·2022-11-16[微笑][微笑][微笑]LikeReport
- Davekkw·2022-11-16OkLikeReport
- Tiger Lim·2022-11-16goodLikeReport
- Rtzeey·2022-11-16👍🏻LikeReport
- procenna·2022-11-16nice1Report
- SUPERCHARGER·2022-11-16OlLikeReport
- LiuJune·2022-11-16okLikeReport
- imsomeonelse·2022-11-16HahaLikeReport
- Jasontay81·2022-11-16HiLikeReport
- HANDM·2022-11-16,666LikeReport