NYP: Target has a boatload of merchandise it can’t sell, the company said on Tuesday.
Just three weeks after reporting disappointing first-quarter earnings, the big-box retailer warned investors that its profits would drop for the rest of the year as it slashes prices on a variety of items that consumers are not scooping up amid a record-high inflation rate of 8.3%.
“Since we reported our first quarter results, we have continued to monitor external conditions and have determined the necessary actions to remain nimble in the current environment,” chief executive Brian Cornell said in a statement.
Shares of the Minneapolis-based retailer were down 9% in pre-market trading on the news. The stock closed at $155.98, down 2.3%. Its shares tanked by 25% on May 18, when it reported first-quarter results.
Cornell also said the company is canceling orders from its vendors in what he described as a “rapidly changing environment.”
Discretionary items like home goods will see the deepest discounts, Cornell said, adding that demand for food, household essentials and beauty products remains strong. At the same time, Target expects revenues to grow in the mid- to single-digit range for the rest of the year. more
I don’t care if they give that crap away for FREE. I’ll never set foot in one of those stores again. And get a clue, Mr. Cornell. That “rapidly changing environment” started when you let men into the women’s restroom.
Ya mean like a fukton of gender neutral shit???
GWGB. No company is more deserving (for the moment) than Target.
If inflation is only 8.3%, I’ll eat my hat.
I have not set foot in a Target since they didn’t know which bathroom should be which. Fools!
Products so unwanted even the urban chimps won’t steal it.
what’s the expression….go woke, go broke….never going into the store…bite me, Cornell….hope your liberal ideas force you to shut down…
So, how’s all that wokeism and bullshit working out for ya?
so solly, tar-gay dindus
Last month it was reported they are selling transgender children’s clothes and accessories. Specifically it was reported they sell chest binders and underpants for girls with a built in wiener. I’m not making this up.
Rot in hell target.
I have been in a lot of business meetings and when you are losing your shorts in market share and bleeding profit, nobody uses a term like “nimble”, but then again I was never (to my knowledge) in a meeting with homos.
The closest I’ve ever been to target is their parking lot. I did a gun transfer there to a guy from another town. He knew where the target was.. go figure. I do go by the place and as of late the parking lot has been pretty empty.
Target can TAS and fall back in it. They were a perverts on parade pioneer and continue to be so. Getting to be a lot more weak, broke dick corporations going the pervert parade route now. Buy nothing from perverts and groomers!
I once shopped at Target often. Then the bathroom thing and no concealed carry so I stopped going there forever. The more of the trans stuff I see them promoting the better my decision was
Looks like their price gouging has come to an end. I don’t patronize Target, I expect them to go the way of K-Mart.
Read The Venona Secrets. It exposed Russia’s plan to destroy America from within. Most destructive ploy the communists used was taking over the Education system. Kids exposed to radical communists are the preferred category of applicants Target hires.
I haven’t been to my local target since I noticed practically every employee was a damn bull dyke. Must be going on twenty years.
They kicked out the Salvation Army. Then came the Trans BS. I’d like to see them gone. We never shop there for those reasons.
Woke and broke and few seem to learn.
Ohio Dan – I was never a big Target fan, but banning the Salvation Army was it for me as well. That made me go vocal on Target!
Oh come on man! Bathroom issues? You trannies (most here) can use both bathrooms, you gayboys have to use gender marked bathrooms.
Boy oh boy, next week you’ll be crying Biden did this, Last week it was no-selves Biden. Biden flavor of the week, but he really does love living in your mind, rent-free of course.
I haven’t been in one in YEARS, but they did carry a brand of kettle chips, by Archer Farms, that were Buffalo Chicken flavored…damn, I miss those chips. Wish someone would buy out the brand. Other than that, Target can rot in hell for all I care.
The first part to Target’s crying is that they’re associates of the (known) neo-nazi and race-hater George Soros as are Macys, Kohls, Walmart, New Egg, Discover, T-Mobile, AT&T, Netflix, HULU, Spectrum Cable, Klarna and a number of other entities. Secondly,much of Target’s merch is largely manufactured in Communist China which includes clothing, food, electronics, and other junk which are poorly made. Fact is Target has been on the mega-downslide since the Biden creep slithered fraudulently into the white house so Target should be blaming Biden for its lack of success.
This is because people are boycotting Target over their pro-kiddy transgender merchandise.
try sidewalk sales, fggts