Target now expects fourth quarter comparable sales in the range of (1.5) percent to (1.0) percent, compared with prior guidance of (1.0) percent to 1.0 percent. In fourth quarter 2016, Target expects both GAAP EPS from continuing operations and Adjusted EPS of $1.45 to $1.55, compared with prior guidance of $1.55 to $1.75.
Remember when market cheerleaders said that holiday sales were expected to be far stronger than usual, if only as a result of the newly-discovered optimism from the Trump election? Well, at least when it comes to conventional retailers like Kohl's and Macy's... not so much.
Now that the shoe is on the other foot, many liberals all over America have suddenly become extremely interested in prepping. Fearing that a Trump presidency could rapidly evolve into a “Trumpocalypse”, a significant number of leftists are now stockpiling food, guns and emergency supplies.
Defying consensus, JPM found retail spending activity trends "worsened post the election contrary to stock market moves and color from some management teams" when analyzing satellite image car counts at parking lots. It finds that this is "interesting as it is counter to prevailing thought."
“The problem for Trump is that we no longer reside in the 80’s where a large group of ‘baby boomers’ were entering the workforce and driving a massive wave of innovation and productivity changes. Today, we are on the wrong side of the demographic trends combined with falling productivity and labor force growth.”
After eight years of trying to see recovery where there was none, the constant spin of sunshine will very likely disappear on January 20. It is ironic in one sense since it is this very disparity between mainstream “reporting” and actual economic conditions that contributed to the Trump victory in the first place.
European shares dipped and U.S. equity-index futures (-0.3%) pointed to a lower open as traders questioned the stability of the Italian banking sector ahead of next weekend's referendum as well as the longevity of the Trumpflation rally, pressuring the dollar. "It's a bit of a pull back in the dollar," said Societe Generale strategist Alvin Tan. "The fall in oil is pushing back U.S. bond yields and that is leading the consolidation in the dollar.. there is more scepticism about an (OPEC) output cut now."
Black Friday is the day when retailers try to push their sales to the last limits in order to maximize their profits, i.e. move from red (loss) column to the black (profit). While the shoppers try to grab the best bargains of the year, the retailers, on the other hand, try to achieve their Black Friday sales targets, this battle continues till the end of the day to mark the winners and losers of this battle.
Confirming the pessimistic outlook on this holiday's spending season, Reuters reports that according to its own spot checks as well as those of reporters and industry officials, "store traffic remained subdued across the country."