Target and Aldi are reducing prices on grocery staples in response to inflation-fatigued customers, with Target posting weak quarterly results and missing earnings estimates. Target's sales fell for the fourth consecutive quarter, showing a decline in key sales measures and cautious outlook on discretionary spending.
Both $WMT and $TGT are cutting prices across thousands of SKUs as demand wanes from consumers with extended credit
Even Target can't hide its head in the sand, citing consumer resilience. But stale talk of spending shifts to services even as rivals post improving discretionary sales = share loss is just as important. $TGT $WMT $AMZN $XLY $XLF https://t.co/fKb1fh3L1g https://t.co/6KSfTzWvaN
E.l.f. Beauty Stock Rises After a Weak Forecast. Here’s Why. https://t.co/62wYUTdDcZ
🇺🇸 Target earnings: sales drop as high prices strain consumer wallets https://t.co/1P21U1CqTd
🇺🇸 E.l.f. Beauty posts first $1 billion year, but shares fall on weaker-than-expected guidance https://t.co/SS4Hd5hiCo
Biggest US retailers cut prices as inflation hits shoppers “Prices are dropping for thousands of items… as US retailers results indicate fatigue among some consumers after 3yrs of high inflation” Another indication of an increasingly bifurcated economy https://t.co/qSK7Ai2ron https://t.co/Nhq1FGMi6h
E.l.f. Beauty posts first $1 billion year, but shares fall on weaker than expected guidance $ELF https://t.co/Pkd621lXNo
Target’s net income inched down to $942 million, or $2.03 a share, for the quarter ended May 4, from $950 million, or $2.05 a share, in the year-ago period. https://t.co/1bIEPrI7PR #retail #grocery
Target said it expects consumer caution to persist after it reported quarterly earnings that missed Wall Street estimates and issued a forecast for the current quarter that was also largely below expectations. Read more: https://t.co/ek6XdhYW1p https://t.co/rRwO0TxMxh
$ELF Elf beats, but guidance light. -7% AH https://t.co/fx9oix4qfx
E.l.f. Beauty posts first $1 billion year, but shares fall on weaker than expected guidance https://t.co/yXVK2bILAr
Target said it expects consumer caution to persist after it reported quarterly earnings that missed Wall Street estimates and issued a forecast for the current quarter that was also largely below expectations https://t.co/2K0XTkv71R https://t.co/vxUmHw51K5
$ELF Earnings Recap - FY Outlook Disappoints Bigly Rev $321M vs $294M est EPS $0.53 vs $0.34 est Sees FY: Rev $1.23-1.25B vs $1.28B est EPS $3.20-3.25 vs $3.60 est Stock -12% initially - given the write down in FY EPS when Consensus growth was already at 21% vs 45x forward… https://t.co/9FyVpfoqpe
Progress for consumers: Prices are dropping for thousands of items at Target and Walmart https://t.co/vXZW27wR1O
Biggest US retailers cut prices as inflation hits shoppers https://t.co/rnNY8GuPma
elf Beauty $ELF Earnings Setup - Looking More Reasonable 45x forward earnings is by no means cheap for a name Consensus anticipates will grow earnings 21% next year - but it is certainly cheaper than at any point in the last year+, during which the stock averaged 50x+… https://t.co/ZKH7ToAA0k
Just had a great discussion with @YahooFinance on the latest shifts in consumer behavior. 📉🔍 Target's Q1 report shows a dip in sales, suggesting potential cracks in consumer resilience and a possible economic slowdown. We're seeing a move towards essentials and less spending… https://t.co/fm8jNJSDIk
Beauty retailer Elf Beauty is poised to report earnings with analysts predicting the first decline in eight quarters. Fears of a slowdown are impacting the company's stock. #ELFBeauty #earnings #stockmarket #businessnews
Target Q1 sales dropped 3%. The retailer is losing ground in grocery and household items as customers shop for less elsewhere, according to analysts. #Target https://t.co/WFxNwF41PW
Biggest US retailers cut prices as inflation hits shoppers via @FT https://t.co/7cpiQFKzlc
Target on Wednesday posted a decline in quarterly revenue as higher prices cut into shopper spending. https://t.co/rBK5KumiF5
Updated view of $TGT earnings and sales via @marketsurge @IBDinvestors #IBDPartner https://t.co/eqAHFpHX2f https://t.co/6Wf8J6QnMK
Target profits disappoint as inflation forces shoppers to slash spending; stock dips 10% https://t.co/v05bORS2DI https://t.co/qSLarHEvt0
"The consumer has been slowing for some time," Storch Advisors CEO Jerry Storch says on $TGT following earnings. "To some degree, this has been disguised oddly enough by inflation." https://t.co/5Dq5ItsKzB
Target $TGT down 10% on consumer spend decline...thousands of items will see price cuts through summer - Sees only 0-2% increase in 2Q comp sales - Reported 1Q Comp sales of -3.7% - Reported 1Q EPS of $2.03 vs est $2.05 - 1Q EBIT down 1.9% to 1.33bn Biggest stock decline since… https://t.co/ImWiruVjtd
$TGT Guidance: "In the second quarter, we are planning for a comparable sales increase in the 0% to 2% range. While this is below the growth rate we'd expect to deliver over time, it reflects the continued cautious approach to our near-term outlook, which has served us well in… https://t.co/KmtzOrzoQz
$TGT earnings miss, sales fall as consumers buy fewer goods. Analyst Sucharita Kodali talks about how other retailers are outpacing the company. "The shopper is retreating to value based retailers," she says. https://t.co/rmNhqc1oxm
Prices are dropping for thousands of items at Target and Walmart, as US retailers’ results indicate fatigue among some consumers after three years of high inflation https://t.co/g8fTVJd4jK https://t.co/Fw7OmhPciZ
Target says shoppers are spending less on groceries and home goods after announcing earlier this week that it would cut prices on thousands of items as consumers grapple with inflation. https://t.co/47BEBe1tIq
Target Corp Shares Down 10% After Co Forecast Q2 Sales, Profit Below Expectations
Why Target, Aldi, Walmart and others are really lowering prices for supermarket staples https://t.co/b2GpYehyw2 https://t.co/BE9qgk4fcY
$TGT said a key measure of sales fell for the fourth consecutive quarter and the retailer remains cautious about discretionary spending for the coming months. Comparable sales declined 3.7% for the quarter through early May, in line with what Wall Street was estimating. Digital… https://t.co/tCNsNWSF25
Target issues weak forecast as shoppers pull back; shares tumble https://t.co/8UAeem5AxE https://t.co/y7VcqXiG4T
Bloomberg: Target Corp. said a key measure of sales fell for the fourth consecutive quarter and the retailer remains cautious about discretionary spending for the coming months Consumer is stretched?
$TGT on Q1 24 performance: "Sales declines, primarily in discretionary categories, were partially offset by continued growth in Beauty. Discretionary sales trends continued to improve vs. prior quarters, led by an improvement of nearly 4 pps in apparel Vs Q4 23" https://t.co/zp2j3qcq0V
$TGT CGO: "Higher interest rates, economic uncertainty, high credit-card balances and other factors have [consumers] concerned, and consumer confidence took a meaningful dip in April. For these reasons and more even if we see sequential improvement in discretionary category… https://t.co/j63mxLzh6T
🇺🇸 Target, Aldi cut prices on staples as ‘pressured’ shoppers rack up grocery debt https://t.co/3QXwgemAxR
US retailers trim prices as shoppers show signs of inflation fatigue https://t.co/OYSZh7EelI
$TGT CEO on the state of the consumer: "They continue to show resiliency...They’re also continuing to normalize their mix of spending back into services & out of home entertainment. That’s contributing to continuing soft trends in discretionary categories"
$TGT CEO on the state of the consumer: "They continue to show resiliency in the face of challenges...They’re also continuing to normalize their mix of spending back into services and out of home entertainment. That’s contributing to continuing soft trends in discretionary…
Target posts weak quarterly results as discretionary spending remains pressured https://t.co/OQ1VsvV0ik
Target Q1 results: 💵 Sales: -3.2% 💰 Comp sales: -3.7% 🏪 Store sales: -4.2% 📱 Online sales: +1.2% 📉 Net income: -0.8% Gloomy. Target losing customers and share. No wonder there's an investment in price! But it's not just about price, store experience is deteriorating too.
$TGT comps -4% in line. Traffic remains down (-2%) inflation no longer a boost for ticket (-1.9%) Meanwhile $WMT transactions nicely positive as new businesses (advertising, membership) subsidising price rollbacks (+45% in April). all about the food wars #inflation #earnings
$TGT Target's results are underwhelming (esp. vs. Walmart's report last week) https://t.co/hXwSlWKFCq
$TGT Earnings: - Revenue: $24.1 billion - GAAP and Adjusted earnings per share (EPS) of $2.03, compared with $2.05 in 2023. Guidance: - For the second quarter, the Company expects a 0 to 2 percent increase in its comparable sales, and GAAP and Adjusted EPS of $1.95 to $2.35.… https://t.co/giol7aAD2O
$TGT TARGET DROPS 6.8% AFTER MIDPOINT OF 2Q ADJ. EPS OUTLOOK MISSES
$ULTA $ELF Target - "Sales declines, primarily in discretionary categories, were partially offset by continued growth in Beauty."
Target's sales fell for the fourth consecutive quarter and it remains cautious about consumers' discretionary spending https://t.co/usWbap9aqn
⚠️ TARGET POSTS WEAK RESULTS AS DISCRETIONARY SPENDING REMAINS PRESSURED Full Story → https://t.co/THces3xNE4 Target on Wednesday forecast current-quarter comparable sales and profit largely below Wall Street expectations after weak discretionary spending dented its… https://t.co/Xl14lk35cJ
Target Misses Earnings Estimates. Discretionary Demand Is Still Under Pressure. https://t.co/uUVZblAQ9Z
*TARGET 1Q SALES $24.14B, EST. $24.13B *TARGET 1Q ADJ EPS $2.03, EST. $2.05 TARGET SEES 2Q ADJ EPS $1.95 TO $2.35, EST. $2.19 *TARGET STILL SEES FY ADJ EPS $8.60 TO $9.60, EST. $9.44
🇺🇸 Target lowers prices to lure budget shoppers from Walmart https://t.co/EvQ955JSdq
Happy $TGT morning, where expectations are insanely low. Last Q Target guided to a negative Q1 w/ a recovery starting right... about... now, in Q2. (Cheat Sheet Attached) America has never needed the upper middle-class discretionary spender more than we do right now. https://t.co/pJGWLpeoay
More fast-food chains and discount retailers are cutting prices as inflation-fatigued customers balk at high prices, hurting sales. https://t.co/1V3RQwXgYJ
Target lowers prices to lure budget shoppers from Walmart https://t.co/Su8vNdAuLB
$TGT Initial reaction to Target earnings tomorrow morning?
Updated view of $PANW earnings and sales via @marketsurge @IBDinvestors #IBDPartner https://t.co/eqAHFpHX2f https://t.co/xzkoY8qHn5
Target $TGT Earnings Setup - Looking at 8 Straight Quarters of Lowered Revenue? The $TGT story of late has been belt tightening as $TGT finally swung from consistent Rev/Eps write downs to some improvement in EPS (last 2 Qs) - given the story quoted below, it seems Rev upside… https://t.co/hUhfE2UezJ https://t.co/YFpWD6ll3l
Why Target and Aldi are reducing prices on grocery staples https://t.co/wDxziGhpj3