Guest Post by Hardscrabble Farmer
Target Slumps Amid Growing Inventory Glut As Consumer Spending Continues To Shrink
Unlike Walmart, whose stock yesterday soared the most in years after reporting solid earnings which beat (repeatedly slashed) expectations and even raised its (dismal) guidance, following not one but two kitchen-sinking earning warnings, its top bricks and mortar competitor, Target, did not fare quite as well and its stock slumped after the retail giant reported profit which badly lagged Wall …
I have a very different take on Target’s slump in sales. Unlike those at Target headquarters, I have no stake in satisfying the demands of the central bankers that control the cash flow and therefore have no obligation to pretend that their foolish policy decisions serve some greater purpose.
Here are five reasons that Target is suffering from this slump, none of which have to do with lack of consumers for their goods.
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