Target Cut the full annual sales worldview on Wednesday, because executors, passionatives have caused the cost of weakness, consumer uncertainty and the company’s main diversity, capital and access efforts.
Expectations such as sales of Wall Street, save and income in the first quarter About 3% fell since the period of time. Operations in target stores and website decreased by 2.4%. And the average amount Customers spent online and in store visits decreased by 1.4%.
The weak performance of the target, the weak performance in the quarter, reflects the company’s wider struggles to return to growth, and this is the cheap stylish reputation and fan, which names the ” Tarzhay ‘. The company is trying to refund loyalty and trust Buyers and investors such as sales slip continue and after their shares, as well as in the last year, as in Tuesday, was 37%.
Calling with reporters, CEO Brian Cornell has closed the problems in the economy of many retailers. He still said the goal is committed to doing better.
The call appealed to a statistics that addressed a statistics shared by: 35 Merchandise met in the category of Merchandise, which won the market share of only 15, or the sale of sales lost in retail sales.
“We’re not happy with that,” said Cornell. “We must share 60, 70, 80% of those categories. This is aimed at the balance of the year and we will do it with confidence that we give a big shopping environment.”
The goal is now that a low-level decline in sale in this fiscal year has increased by about 1% compared to the previous forecast of net sales growth. This was previously expected from $ 8.80 to $ 9.80 to $ 9.80 to $ 9.80, compared to $ 9.80, compared to $ 9-9 to $ 9.80, compared to $ 9 to $ 9.80, about $ 9-90, compared to $ 9-9,000, about $ 9-90, said that compared to $ 9-90 dollar, said.
The target also announced the establishment of a new office that intends to shake and approaches some leadership Its results. Michael Fiddelke, Michael Fiddelke, will take control of new efforts called the acceleration department, which will be looking for methods to simplify operations, use the target and accelerate the target growth.
The goal is to leave Amy Tu, Chief Law and Compliance Officer, Chief Strategy and Gracious, Gristina Henningon. Hennington, the main lead Some of the company’s profit challenges were widely considered to be a candidate for COOR CORNELL in industrial circles.
According to the analysts analysts by LSEG, this is the Minneapolis-based retailer for the first quarter of the Wall Street compared to the financial first quarter:
- Earnings for a stock: $ 1.61 $ 1.61 $ 1.61
- Comes from: $ 23.85 billion and $ 24.27 billion is expected
In the three months of May 3, the target net income rose to $ 942 million or $ 2.27 per share, or in a period of $ 2.03 in a period.
The revenue fell from $ 24.53 billion since year.
Comparable sales decreased compared to 3.8% compared to year, because comparable store sales increased by 5.7%, digital sales 4.7%.
Trade fell on Wednesday target shares more than 5%.
Tariffs were added to a collection of difficult problems for the target only. The annual income of the discoper was approximately four years in a row. Sale, manufacturer, such as home decor, for example, consumers are more weak in sales categories, for which they are careful to choose and spend. The company withdrew from buyers and Rev. Activist pressure, including Al Sharpton – pressure from activists to return the diversity, capital and entry program.
Cornell told reporters that in the first quarter of the goals, “Our authorized pressure, followed by two months in a row, and reacts to the updates that belong to us in January in January.”
He said that all of the company’s quarterly consequences, however, “he cannot evaluate the effect of each.”
However, Cornell, including membership program, target circle 360, target Circle 360 ​​and a jumping of 36% in the popularity of a clothing and accessory collection, pointed to several bright spots. He said that a limited time was the strongest in the sales target for the designer partnership for ten years.
Sunday share, which targeted in some categories targeting in the first quarter, called the General Officer Rick Gomez, called journalists. These include drunk drinks, flowers and products. In addition, female mayo dresses and toddler grown traffic around Valentine’s Day and Easter, including even larger and Easter, including the traffic growth and traffic.
Price plans
Follow the target’s earnings from other retailers, including Walmart and Home Warehouse updates. Both large boxes retailers reaffirmed their full annual meetings when both warning quarterly earnings. However, how the two companies were divided by expenses higher than tariffs. Walmart warned Due to the duty, this month will be forced to increase prices for customers. The house warehouse, on the other hand, said he did not plan to increase prices.
Gomez will increase prices in some items to pay the tariff-related costs. According to him, the company also negotiates with the sellers, re-evaluating the goods he sold, changing the country and regulating the time, he said he was trying to minimize the country he sold.
Cornell, the company’s income call, said that the scale of large box retailers, other retailers will use the scale to help them to be competitive.
“We have many goals to use the effects of tariffs and the price is the last resort,” he said.
The long-term level of long-term tariffs is not known, but to think about “think of potential scenarios” and “to maintain our work in the face of great potential costs,” he said.
Although Journalists are repeatedly pressed by journalists, Cornell is a properties that prices have increased or encountered due to the duty of the company’s tariff price increase or duty.
“We constantly regulate prices,” he said. “Some are rising, some will decrease, but this is an effort that happens every day and every day.”
In early March, Cornell, Cornell, clients, about 25% of the expected 25% tariff, avocados and bananas, avocados and banana said higher prices. Since then, since the United States, many have released many of these countries, but imported from China – the main production center for the target – there is a 30% fee.
Gomez said that about half of the target currently sold is from the United States. Over the past few years, the retailer said that the production of private label brands is trying to transfer the production of Chinese to different countries.
The target with personal label brands is about 30% in China in 2017 and the company said that today he planned to reduce it to 25% by the end of the next year.
Price pressure will last in the second quarter, but the target is waiting for more comfort in half of the year, the General Financial Officer Jim Lee called journalists. He said that due to the higher demand, for example, there are several quarterly expenses related to the reduction in inventory such as markdowns.
Gomez remained a priority to offer low-valuable items, despite the tariff costs. In the front part of the company’s stores, cheap seasonal items have an area sold for 1, 3 and $ 5. Gomez said that the target is planned to keep the same prices in that part of the store and add mini beauty products and fashion food and drink items.
