Last week, the market breathed a sigh of relief after Walmart maintained its annual sales forecast. The CFO said February was softer than expected, March was back to normal and April was very strong.
TGT is down 7% after missing Q1 revenue estimates. The company also cut its full-year sales outlook.
Some of that may be because of the DEI dance the company is doing but I find it hard to believe that consumers actually care. The company blamed most of the decline on the economy.
Sales were down nearly 3% compared to a year ago. The company now expects a low-single digit decline in sales this fiscal year, compared to a previous forecast of net sales growth of about 1%.
CEO Brian Cornell said that “ongoing pressure in our discretionary business, plus five consecutive months of declining consumer confidence, tariff uncertainty and the reaction to the updates we shared on belonging in January.”
Also remember that consumers haven't even been hit by tariff price hikes yet. The company said that price hikes are a "last resort" but didn't rule them out.
This article was written by Adam Button at www.forexlive.com.Hence then, the article about shares of target fall 7 as the company highlights consumer weakness was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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