by Just An American | May 19, 2016 12:51 pm
Since Target has come out saying they do not care about the safety of our little girls – they have been taking hit after hit from those that disagree STRONGLY with them. However, it’s sticks and stones that break your bones, so our words against them have fell onto deaf ears. Until now…the sticks and stones have arrived, in the form of numbers. Stock numbers plummeting to be exact…
From Young Conservatives:
Target Corp. shares fell the most in more than seven years after quarterly sales missed analysts’ estimates and the discount chain delivered a disappointing forecast, adding to evidence that the biggest U.S. retailers are suffering from a slump.
Target’s same-store sales gained 1.2 percent in the first quarter, which ended April 30, the Minneapolis-based company said in a statement Wednesday. Analysts had predicted 1.6 percent growth, according to Consensus Metrix.
Chief Executive Officer Brian Cornell cited “an increasingly volatile consumer environment” and colder weather in the Northeast, adding his voice to the chorus of retailers complaining of sluggish demand. As it copes with the slowdown, the company expects same-store sales to range from flat to down as much as 2 percent in the second quarter. But Cornell said it is too early to tell whether the pullback by consumers will persist through the rest of the year.
The stock fell as much as 9 percent to $66.98, the biggest intraday decline since December 2008. It had been up 1.4 percent this year through Tuesday’s close. Target’s disappointing results also dragged down shares of Wal-Mart Stores Inc., which reports its earnings Thursday. Its stock dropped as much as 3.6 percent to $62.75.
Target also hasn’t seen a material impact from a boycott effort over bathrooms, he said. Conservative groups targeted the chain after its announcement last month that it would allow transgender customers to use the restroom of their choice. The move has drawn protests, but it’s only affected a “handful of stores,” Cornell said.
Nice cover story…if their stock drop is not due to the boycott, then why is it that Walmart’s stock has increased substantially so suddenly at the SAME time as Target’s has dropped? Coincidence? I think not…
Source URL: https://rightwingnews.com/top-news/target-stocks-taking-dangerous-nose-dive-look-blaming/
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