Target throws spaghetti at the wall for solutions to ongoing sales slump— ‘There is a general malaise creeping' into the business, analyst warns [Yahoo! Finance]
Victorias Secret & Co. (VSCO)
Company Research
Source: Yahoo! Finance
The Minnesota retailer reported on Tuesday a 58% increase in profits, and quarterly revenue was up nearly 2% to $31.92 billion decisively beating Wall Street estimates. But Target still isn't breathing a sigh of relief. Comparable sales dipped 4.4%, a continuation—albeit slowing —of a downward trend for Target. Things aren't likely to turn around soon. The company expects a 3-5% sales decline in 2024's first quarter, according to its fourth-quarter earnings report Neil Saunders, managing director of GlobalData, said in a Tuesday note that the sales decline is a “worrying portent that the consumer remains in a tough spot.” “The revenue weakness reflects the broader economic trend of Americans cutting back on non-essential spending which has hit Target, with its discretionary offer, particularly hard,” he said. McKinsey & Company reported in February that while customers are shopping as frequently as they used to, they are buying fewer items. Over three-fourths of shoppers say
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- Victoria's Secret & Co. (NYSE: VSCO) is now covered by analysts at The Goldman Sachs Group, Inc.. They set a "sell" rating and a $14.00 price target on the stock.MarketBeat
VSCO
Earnings
- 3/6/24 - Beat
VSCO
Sec Filings
- 4/22/24 - Form PRE
- 3/22/24 - Form 4
- 3/22/24 - Form 10-K
- VSCO's page on the SEC website