Target sounds the alarm bell on holiday shopping | CNN Business

2 days ago · Target is expecting a surprisingly weak holiday shopping season, a potential warning sign for the retail industry. ... Follow CNN Business. 2024 Elections

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Target Warns Of A Weak Holiday Season. Shares Are Tumbling

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Nov 16, 2022 · Target’s profit plunged 52% in the third quarter and the retailer warned of a sluggish holiday. Target blamed inflation and a deteriorating economic outlook for its miserable …

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Target Has A Warning About The Holidays - Wsiltv.com

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Nov 15, 2023 · New York (CNN) — Target’s sales slumped last quarter and the retail giant is predicting a slow holiday shopping season. Target’s sales tumbled 4.9% — the second quarter …

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FAQs about Target sounds the alarm bell on holiday shopping | CNN Business Coupon?

Will target's holiday shopping season be a warning sign?

Target is expecting a surprisingly weak holiday shopping season, a potential warning sign for the retail industry. The company forecast Wednesday that sales during the final quarter of the year will be flat, and Target lowered its profit forecast. Target also reported a sluggish sales increase of just 0.3% during its latest quarter. ...

Is target predicting a slow holiday shopping season?

Target’s sales slumped last quarter and the retail giant is predicting a slow holiday shopping season. Target’s sales tumbled 4.9% — the second quarter in a row sales have dropped. And the company forecast a weak holiday, as customers continue to forgo discretionary purchases like furniture, electronics and some clothing. ...

Does target survive the holiday season?

Target is a bellwether for consumers’ spending habits and the retail sector as a whole. The holiday shopping season is pivotal for retailers. While Target can survive a weak holiday stretch, many smaller companies depend on strong sales during the holidays to carry them through the following months. ...

Will target's holiday sales decline by mid-single digits?

Target expects sales to decline by mid-single digits this holiday season. Shoppers have become more cautious in the face of inflation, higher interest rates and the resumption of student loan repayments. Consumers aren’t spending on home improvement projects the way they were during the pandemic, Home Depot said Tuesday. ...

Why did target lose a year ago?

As shoppers have pulled back, Target has been stuck with an inventory glut. That has hurt its profitability. But Target’s inventory levels are leaner than they were a year ago and Target is marking down fewer products. Target’s profit also grew from lower freight and supply chain costs. ...

Why is Target struggling?

Target is struggling because its core middle-class customer base has been strained by higher prices and pulled back on discretionary goods like home decor, electronics and nonessential clothing in favor of groceries and everyday essentials. ...