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Stock impact report

The biggest reason America is turning on Target and switching to Walmart [CNN]

Target Corporation (TGT) 
Last target corporation earnings: 3/3 06:30 am Check Earnings Report
US:NYSE Investor Relations: investors.target.com
Company Research Source: CNN
The biggest reason: As life becomes harder for everyday Americans to afford, shoppers have grown pickier about how they spend their money and hunted for deals. Many of these consumers feel Walmart can stretch their dollars further on groceries, household essentials, clothing and electronics. Target, meanwhile, traditionally catering to a slightly higher-income customer, has suffered a major dent to its “Tar-zhay” appeal. “Everyone wants value,” Walmart CEO Doug McMillon, who recently announced he was retiring after 11 years, said on a quarterly earnings call Thursday. Walmart's US sales increased 4.5% last quarter, while Target's dropped 2.7%, continuing a years-long divergence in sales and stock price between the companies. Value is more important than ever these days for consumers. Consumer sentiment is glum , job growth has slowed, and the federal government shutdown forced low-income shoppers to pull back spending amid a pause in the Supplemental Nutrition Assistance Progra Show less Read more
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