This page has been archived and commenting is disabled.
Target Misses, Good Weather Blamed
A week ago it was the better than expected weather's fault for the big Wal-Mart miss. Today, it is the turn of that other retail bellwether, Target, to blame sunny days.
From the release: "Target’s first quarter earnings were below expectations as a result of softer-than-expected sales, particularly in apparel and other seasonal and weather-sensitive categories,” said Gregg Steinhafel, chairman, president, and chief executive officer of Target Corporation. “While we are disappointed in our first quarter performance, we remain confident in our strategy, and we continue to invest in initiatives, including Canada, our digital channels and CityTarget, that will drive Target’s long-term growth."
Of course, what this miss really means is that the payroll tax impact on consumption, so well seasonally-adjusted out of the wholesale retail sales numbers, and thus PCE and GDP, and which Goldman has been so inquisitively looking for and not finding at the national level leading it to believe the US economy is steadily on the mend, is more than present at the micro level. One only has to look. And with gas prices set to rise back to all time highs in a day or two, one can forget hopes that the fade in the payroll tax hike's impact on consumption will be promptly forgotten as other forms of taxation strip the already empty consumer wallet even more bare.
»
- 5682 reads
- Printer-friendly version
- Send to friend
- advertisements -
Lowes Misses Bad weather blamed
This is all such great news. I can't believe the economy is booming. All thanks to Bernanke and the Congress.
If the booming is the sound of impending implosion(like a glacier starting to crack), I'd say you're right...
Well, at least insider selling of shares in the last six months isn't an issue:
Net Shares(Sold) (23,202,400)
The crack-up boom of hyperinflation...
i guess we have no other choice than to go springefield on this bitch and dome it all in...
You might be on to something. Maybe if we lock people in the multi-national chain stores, they will be forced to buy things, earnings will improve, and the market will look more plausible. It's just more freedom that they would have to discard, why not?
They're going to be FEMA camps in the future. Might as well start "losing" a family here or there without reporting it. Save the babies and cheerleaders for Hitlery, of course.
Sears Canada also blamed the weather.
http://www.ctvnews.ca/business/sears-canada-posts-31-2m-loss-in-first-qu...
"The unseasonable cool spring in most parts of the country had an adverse impact on sales of outdoor power equipment, patio, and other seasonal lines."
It's that damned global warming! I just knew there was a nefarious reason that the Keynesian plan was being prevented from saving us all....
When Dollar Tree goes BK it will be at S&P 3000...
They just tore up a magnificent treed lot of grandfather oaks in a podunk 'ville of about 3000 to put in another Dollar General. It's about 5 miles from the next Dollar Tree store and was the former site of a small Post Office. Now the PO is 6 miles further away and the town has a useless outlet for more Chinese junk. This country is going beyond Full Retard...
In China, they have forced millions off their ancestral farmland to build completely empty cities. It's unbelievable what this world is coming to.
Good weather is bad for wages. Bad weather is also bad for wages.
Look on the bright side: Lowe's and Home Depot are going to get a nice Krugman-esque boost in Tornado Alley! #fail
Tow the company line or else. And by company I mean the DemoRepub establishment in DC.
http://www.cnn.com/2013/05/22/justice/florida-fbi-shooting-boston/index.html?hpt=hp_t3
No surprise. Many will have to be eliminated/disappeared in order to make the story/central planning work.
Incase you missed it, Boston marked the official response is shoot first and question the suspect later. I'm still trying to find actual evidence that the elder brother had a weapon when shot by the police.
What did Staples blame it on? And Lowe's?
Staples blames it on The Ben Bernank for encroaching on most of their printing revenue.
I thought they would blame the Fed for not buying more $3,000 printing cartridges to continue QE. It's pitiful that sometimes the cartridge costs more than a new printer.
Staples and Lowes should start selling ammo and guns.
DAMN YOUUU GOOD WEATHERRRR!!!
Obviously the government has to get on the stick and import illegal aliens more quickly so that retail can exceed expectations again.
Yes, the weather can only be called unusual. A high-low-pressure area dozed across the left side of the river, accrued by a layer of humidity which originated from sludge gas in rotten treeroots. What else was there to be expected than target misses? Climate change FTMFW, bitchez!
We'll know the gig is up when they blame poor sales on Chemtrails.
Tylers maybe you can provide a chart of the "Weather Related Excuse" index.
Weather Channel is going to start providing an Economic Impact Analysis rating with each forecast.
Example:
NYC Sunny 75F Wind 10W-SW 65% Humidity -2.3% EIA
OKC Tornado warnings 85F Wind 30W 85% Humidity +7.8% EIA
Chickens coming home to roost. Maybe one day Wall Street will figure out that if people have no jobs or aren't paid enough at the job they do have, they can't buy any products.
Buy products? What fucking "product" of real value do these fuckers produce again? Wall street and big banks have set things up so that they simply collect fees for providing paper fucking promises and printing YOUR currency. This is why real money (PMs) is so loathed by them. Should we all start bartering or exchanging real money, they are done.
I meant products that retailers (Target) sell. Sorry if I wasn't clear.
I know what you meant. The interesting thing I find it that Wall Street probably won't care as long as the free money train keeps pulling into the station. Everyone on Wall St buys and holds as the market goes higher. Who cares about real economic activity anyway?
Fair enough, but please recognize that retailers are simply middlemen as well. Fuck them and all the middlemen living off the "skim".
i blame work for missing golf yesterday.
Kramer used to say that bad sales at Walmart and Target was great news because the economy is so good people are shopping at more upscale places instead. :/
Same thing when fast food sales are down. People eating at Ruth Chris.
What is it they're trying to say....if the weather was worse, they would have sold more umbrellas?
Unfuckinbelievable.
Bullish. The us consumer isn't needed anymore as the maggots have chinese peasants to take their place. The banks have the bernank working the big scam for them so it's all good.
If Target were to add some fractional Treasuries in with the gift cards then all would be well.
Or maybe move some more copies of "How to Collect Disability for Dummies," small word edition?
pods
FBI seems to be on target: http://www.myfoxorlando.com/story/22382085/fbi-agent-shoots-man-dead-in-orlando
Seems they managed to keep a guy who was in contact with Tamerlan(of Boston fame) in the country and then shot and killed him during a meet. Hmmmm...
Sounds like they killed him while they had the roommate at the FBI office for questioning. Very convenient.
This is hillarious. If the stock market crashes or if the economy collapses, are they are going to blame it on weather too?
They'll blame it on Bush, "Global Warming" or the Tea Party.
...tee he he...he said, "stock market crashes"...hee hee...that's funny....
I don't go to wal-mart because, it gives me nose bleed, hives, red ass, itchy scalp, burning balls, pimples, drinking disorders, back ache, sweaty palms, so it was my fault they miss! nothing to do with good weather!
A week ago it was the better than expected weather's fault for the big Wal-Mart miss. Today, it is the turn of that other retail bellwether, Target, to blame sunny days.
Can’t we put this to rest one way or the other already?
True or False: Retail outlets in places with the most reliable and predictable weather (like San Diego) have the most consistent same store sales in the country.
The drop in sales is -26 percent Y/Y. This is huge, yet not posted in article. Kind of pertinant.
Just like BBY had a -10 percent Y/Y drop in revenue. Margin collapses should start in 2nd half of the year as the economy continues to weaken and as companies prepare for Obamacare.
STEVIE WONDER - BLAME IT ON THE SUN http://www.youtube.com/watch?v=rcAoaP7HGlA
Milli Vanilli - Blame It On The Rain http://www.youtube.com/watch?v=zKMKIBztlec
- Nouriel Roubini
Banner add reads: get an MBA online and advance your millitary career. Yeah id say were in bubble territorrry
Who gives a fuck what these little maggot consumers are doing...SPG is up 700% from the 09 lows.
and TOL is selling craptastic mcmansions like they're going out of style
Target didn't stock individual stores with patio set inventory in an attept to control the inevitable unsold inventory that would need to be marked down 70% to move.
If you wanted one of the $300 patio sets, you tell a store employee, if you can find one, and they will tell you it will be ordered and you can pick it up in a few days.
People that can afford to buy a $300 patio set, went to Target because they wanted to bring it home that day. They can also probably afford a $500 patio set. So they leave to buy somewhere else and Target loses out on the bag of charcoal, case of soda, and whatever else the customer would have bought.
The people running most of these corporations today would have a hard time beating a team of retards at Trivial Pursuit.
Since they can't sell snowblowers to their customers this season, they decided to use them on their shareholders.
Damn good thing that there won't be any of that pesky 'weather' during the 2nd quarter to fuck up their sales.
In Canada we pronounce it as "tarjeh".....