Current Events > Target profit plunges 90%

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solosnake
08/17/22 11:11:33 AM
#1:


https://www.cnn.com/2022/08/17/investing/target-earnings/index.html

Target's quarterly net income fell to $183 million, down significantly from $1.8 billion during the same period a year ago.

Wonder if we will see a lot Target of stores closing in the future

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#2
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DarkBuster22904
08/17/22 11:14:02 AM
#3:


Not hard to see why.

They're basically "walmart but worse in every possible way," at this point. Worse prices, quality, selection, locations... and that's a damn low bar to meet.

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Questionmarktarius
08/17/22 11:14:19 AM
#4:


I only go there for clearance Lego and videogames anyway, so whatever.
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OzoneNeon
08/17/22 11:14:26 AM
#5:


I go to Target to avoid People of Walmart

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NeoShadowhen
08/17/22 11:16:14 AM
#6:


Their whole business model seems to be like Walmart, but without people who shop at Walmart.

It would be a shame if they went under.
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Fable
08/17/22 11:16:29 AM
#7:


Who would've thought that having higher prices for the same item you can get 2 doors over while offering nothing else would be a bad business model?

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TheGoldenEel
08/17/22 11:16:48 AM
#8:


Always busy when I go, seems like a massive drop

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Godshammer666
08/17/22 11:17:20 AM
#9:


Last time I went to Target, like a month ago, I left without buying anything, their shelves were almost completely empty.
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Questionmarktarius
08/17/22 11:18:37 AM
#10:


DarkBuster22904 posted...
They're basically "walmart but worse in every possible way," at this point.
Kmart 2: the Kmartening
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MabusIncarnate
08/17/22 11:18:51 AM
#11:


I go once a year because my wife likes weird socks and each year they have a couple new themed advent calendars. I've gotten LotR, Star Wars and Harry Potter each year as a small gift for Christmas. They are like $100 on Ebay and the store is always in stock and they are like $25.

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MrAndersonWb
08/17/22 11:19:07 AM
#12:


DarkBuster22904 posted...
Not hard to see why.

They're basically "walmart but worse in every possible way," at this point. Worse prices, quality, selection, locations... and that's a damn low bar to meet.

target has much better quality than Walmart . You also see far less Maga types shopping there

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MedeaLysistrata
08/17/22 11:19:11 AM
#13:


DarkBuster22904 posted...
Not hard to see why.

They're basically "walmart but worse in every possible way," at this point. Worse prices, quality, selection, locations... and that's a damn low bar to meet.
at least they are red and not blue though

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Bio1590
08/17/22 11:19:51 AM
#14:


This is despite their sales actually going up, that's fucking wild

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HornyLevel
08/17/22 11:23:12 AM
#15:


Target is not any more expensive than Walmart. Discretionary spending is down across the board, especially since gas skyrocketed a few months ago. This was predicted at the start of the inflation crisis last winter. Lots of clearances will be coming our way.

Walmart doesn't suffer much because they simply offer more essential stuff like groceries. Though I will say that Target hasn't been offering nearly as good sales in recent months.

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ChocoboMogALT
08/17/22 11:23:45 AM
#16:


In my area, Walmart is not cheaper, it's just trashier. Maybe this is classist, but I don't know why anyone would ever choose to go to Walmart when there's other options.

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#17
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Solar_Crimson
08/17/22 11:27:21 AM
#18:


OzoneNeon posted...
I go to Target to avoid People of Walmart


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Eramir
08/17/22 11:27:41 AM
#19:


Hard to keep up with Walmart even I feel like I can get most basic items at Walmart but Target has the worst reliable inventory

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JuanCarlos1
08/17/22 11:33:23 AM
#20:


DarkBuster22904 posted...
Not hard to see why.

They're basically "walmart but worse in every possible way," at this point. Worse prices, quality, selection, locations... and that's a damn low bar to meet.


First person Ive seen come up with this. Usually people prefer target cause its a less trashy Walmart with better food selection, better quality items. I can actually shop and wear targets clothing. Id probably wouldnt do the same from walmarts selections.

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Questionmarktarius
08/17/22 11:34:14 AM
#21:


JuanCarlos1 posted...
better food selection
whut
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PoopPotato
08/17/22 11:36:49 AM
#22:


Target has good Men's apparel.

Walmart does too if you want to look like Guy Fieri

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RchHomieQuanChi
08/17/22 11:37:44 AM
#23:


Target is a far less annoying place to shop at than Wal-Mart

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SamsungGearS2
08/17/22 11:38:31 AM
#24:


Walmart is cheaper than Target, and Walmart has a better selection.

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HotLap
08/17/22 11:40:30 AM
#25:


I went to a Walmart for the first time in years last month and heard five different people audibly fart in the aisles. Granted, I was the fifth person but I wouldnt have done so if the four others hadnt led by example.

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roos1046_Reborn
08/17/22 11:41:20 AM
#26:


ChocoboMogALT posted...
In my area, Walmart is not cheaper, it's just trashier. Maybe this is classist, but I don't know why anyone would ever choose to go to Walmart when there's other options.

exactly

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CE_gonna_CE
08/17/22 11:41:42 AM
#27:


Yet the stock isnt down like 20+%?

Hmm.. might be time to buy more then.

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Touch
08/17/22 11:46:36 AM
#29:


HotLap posted...
I went to a Walmart for the first time in years last month and heard five different people audibly fart in the aisles. Granted, I was the fifth person but I wouldnt have done so if the four others hadnt led by example.
Lmfao

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MrFingers07
08/17/22 11:48:02 AM
#30:


i don't have walmarts over here while there's multiple targets near by

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MabusIncarnate
08/17/22 11:48:12 AM
#31:


HotLap posted...
I went to a Walmart for the first time in years last month and heard five different people audibly fart in the aisles. Granted, I was the fifth person but I wouldnt have done so if the four others hadnt led by example.
Lol

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GrandConjuraton
08/17/22 11:48:45 AM
#32:


Fable posted...
Who would've thought that having higher prices for the same item you can get 2 doors over while offering nothing else would be a bad business model?


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Prismsblade
08/17/22 11:49:22 AM
#33:


I don't even remember the last time I've been to a target. And can't think of anything to buy there andnfir the same price I could just get at Walmart, best buy, or Sam's club.

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Smashingpmkns
08/17/22 11:50:54 AM
#34:


OzoneNeon posted...
I go to Target to avoid People of Walmart
People of Target are way more annoying though.

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tripleh213
08/17/22 11:51:14 AM
#35:


HotLap posted...
I went to a Walmart for the first time in years last month and heard five different people audibly fart in the aisles. Granted, I was the fifth person but I wouldnt have done so if the four others hadnt led by example.
lol

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LeCh0nk
08/17/22 11:52:34 AM
#36:


OzoneNeon posted...
I go to Target to avoid People of Walmart
That's why they failed in Canada. We don't have the same stereotypical "people of Walmart", at least not to such an obnoxious degree.

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KaZooo
08/17/22 11:54:25 AM
#37:


I know locally we've been getting grocery section overhauls. If it's a nationwide move, I can see this making a big dent in net profit.

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hyperpowder
08/17/22 11:55:00 AM
#38:


OzoneNeon posted...
I go to Target to avoid People of Walmart


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emblem-man
08/17/22 11:55:44 AM
#39:


solosnake posted...
https://www.cnn.com/2022/08/17/investing/target-earnings/index.html

Wonder if we will see a lot Target of stores closing in the future

Those numbers don't even seem real

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The_X_Dawg
08/17/22 11:56:19 AM
#40:


I love Target. You avoid the trash of Wal-Mart and it's a much better shopping experience.

Always packed at each Target I go to.
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Flockaveli
08/17/22 11:56:45 AM
#41:


Going to Target is one of the go-to spots for going on a date!
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BearlyWilling
08/17/22 11:58:44 AM
#42:


HotLap posted...
I went to a Walmart for the first time in years last month and heard five different people audibly fart in the aisles. Granted, I was the fifth person but I wouldnt have done so if the four others hadnt led by example.



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MrAndersonWb
08/17/22 11:59:24 AM
#43:


The_X_Dawg posted...
I love Target. You avoid the trash of Wal-Mart and it's a much better shopping experience.

Always packed at each Target I go to.

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gunplagirl
08/17/22 12:13:43 PM
#44:


Consider also that profits last year were probably record highs for them due to pandemic price spikes

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VigorouslySwish
08/17/22 12:16:41 PM
#45:


Godshammer666 posted...
Last time I went to Target, like a month ago, I left without buying anything, their shelves were almost completely empty.

yeah this has definitely been a problem at mine as well, they cant seem to keep stocked on a lot of things

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HylianFox
08/17/22 12:23:39 PM
#46:


There are like 4 Targets in my immediate area, it'd suck if they ALL closed

So much better than Walmart, in terms of selection and overall atmosphere...

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HylianFox
08/17/22 12:26:04 PM
#47:


ChocoboMogALT posted...
In my area, Walmart is not cheaper, it's just trashier.

Yeah, basically this.

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Alteres
08/17/22 12:29:26 PM
#48:


Omg, you people actually buy clothes there that explains this shit, was wondering how tf quality would be different for name brand items

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TheHoldSteady
08/17/22 12:31:15 PM
#49:


I hate Target and Walmart

I only go there if I can't avoid it

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