|Bid||0.00 x 900|
|Ask||0.00 x 4000|
|Day's Range||70.93 - 71.96|
|52 Week Range||48.56 - 78.70|
|PE Ratio (TTM)||13.36|
|Forward Dividend & Yield||2.48 (3.45%)|
|1y Target Est||N/A|
CNBC's Mike Santoli; Nancy Tengler, Heartland Financial; and Bill Smead, Smead Capital Management, discuss the day's market response following the cancellation of the Trump-Kim summit.
Gap Inc (NYSE:GPS) reported earnings, and the markets hated what they saw. Coming into the earnings event, GPS stock was already lagging the like of Macy’s Inc (NYSE:M) and Target Corporation (NYSE:TGT), and this dip will cause it to fall further behind., but I believe that this selling will eventually abate and the stock will find footing.
On today's episode of the Zacks Friday Finish Line, Associate Stock Strategist Ryan McQueeney and Editor Maddy Johnson take on this week's biggest stories, including the latest trends in luxury apparel and retail, Target's mixed earnings report, and recent trade concessions made by the U.S. and China.
Solid earnings from key players like Kohl’s Corporation (NYSE:KSS) and TJX Companies Inc (NYSE:TJX) have helped bolster sentiment within the group. As the company’s earnings report recently proved, Kohl’s is not just my wife’s favorite clothing retailer. With consumers becoming increasingly selective about where they shop, Kohl’s has hit the sweet spot.
Although he’s one of the world’s richest people with a net worth of $84 billion, his buy-and-hold strategy is unoriginal. Living within your means and saving for the future are great personality traits. Consider that Buffett is 87 years old.
A burst of recent shopping has been quickly returned by investors in Target Corporation (NYSE:TGT) following a mixed earnings report this week. An aggressive shopping spree in front of Wednesday’s confessional from Target ,which saw shares jump higher by 10% over six trading sessions, proved to be less of a bargain than many investors obviously hoped for. Behind the about-face in TGT stock, the company’s slight weather-based profit miss and margin concerns trumped a return to earnings growth, an improving digital presence, exclusive product launches and brick-and-mortar makeovers helping drive stronger traffic and sales.
Energy proved the biggest drag on stocks this week amid a drop in crude prices but failed to keep Wall Street from clocking a weekly gain as utilities advanced. The S&P 500 ended the day 0.2 per cent lower but was up 0.3 per cent on the week to finish at 2,721.33. Energy was the biggest laggard, down 2.6 per cent on Friday, taking its weekly loss to 4.5 per cent — the largest weekly drop since the week ended February 9.
The race for supremacy seems to be heating up with more players adding muscle to their e-commerce and delivery arm with more acquisitions and technological assistance.
Costco (COST) managed to report stellar sales and earnings growth in the past several quarters despite heightened competition and margin headwinds. Analysts expect Costco to continue to outperform Walmart (WMT) and Target (TGT) with its sales and earnings growth rate.
Target’s (TGT) fiscal first-quarter earnings miss didn’t have much of an impact on analysts. Cowen lowered its target price on Target to $77 from $80. Meanwhile, Jefferies raised its target price to $73 from $67 per share following Target’s fiscal first-quarter results.
Target (TGT) has been underperforming on the margins front in the past several quarters. Investments in pricing, higher digital fulfillment costs, store remodeling, and delivery service expansion have been taking a toll on the company’s profit margins.
Target (TGT) sustained its sales momentum in the fiscal first quarter. Target’s total sales of $16.8 billion exceeded analysts’ expectation of $16.6 billion and increased 3.4% YoY (year-over-year) due to improving comps. Target’s comparable store sales or comps grew 3.0% in the fiscal first quarter, which reflected 3.7% growth in traffic—the highest in the past ten years.
Target (TGT) reported healthy fiscal first-quarter results for the period ending on May 5. Target’s digital push, exclusive product launches, and store remodeling are driving the company’s traffic and sales. Despite numerous positives and continued strength in its digital business, Target stock fell 5.7% and closed at $71.17 on May 23.
Costco’s (COST) profit margins could remain subdued in the fiscal third quarter. The continued investment in price and inflation in transportation and logistics costs are expected to hurt Costco’s profitability. Costco, Walmart (WMT), and Target (TGT) are willing to take a hit on their profit margins by keeping prices low to drive shoppers to their stores and websites.
Target Corp. said sales are rising as the big-box chain benefits from a strong economy and recent investments in stores and online, but those investments continue to weigh on profits. The company on Wednesday said sales in existing stores rose 3% in the quarter ended May 5, boosted by more shoppers visiting Target’s stores and website. Chief Executive Brian Cornell said customer traffic to stores was the strongest in over a decade of quarterly figures.