Target cuts annual profit outlook

[Omaha Steve]

Source: AP-Excite

By ANNE D'INNOCENZIO

NEW YORK (AP) — Target slashed its annual profit outlook as the retailer continues to reel from a massive data breach, a disappointing expansion in Canada and sluggish sales in the U.S.

The nation's third-largest retailer also said Wednesday that its second-quarter earnings dropped 61.7 percent.

Shares of Target fell more than 2 percent in premarket trading.

The Minneapolis-based company said it earned $234 million, or 37 cents per share, in the quarter ended Aug. 2, compared with earnings of $611 million, or 95 cents per share, a year earlier.

FULL story at link.



FILE - This Monday, Aug. 19, 2013 file photo shows a shopping cart outside a Target store in Riverview, Fla. Target Corp. reports quarterly earnings on Wednesday, Aug. 20, 2014. (AP Photo/Chris O'Meara, File)


Read more: http://apnews.excite.com/article/20140820/us-earns-target-e0d6eb025c.html

[ChristianSocialist]

1. Thriftaholic

I like to support Unionized Kroger for food plus the Kroger brands are high quality and prices are competitive too Wal-Mart. Apart from toiletries and cleaning supplies that I buy from Family Dollar just blocks away from my house (I can walk to it). Plus, it's easier to navigate and less time consuming too pick up my items due too it's smaller size and fast check-outs. Everything else, I buy at the thrift store in fact I'm addicted too the thrift store. Funny, I find Target brands at the thrift store with the tags still on it all the time.

[ChristianSocialist]

3. Low wages and Greed was their downfall at least in Wal-Marts Case

Wal--marts on the down slide too thanks too the Dollar Stores and online shopping. And with everything going up but wages a low-wage work force can now only afford the Thrift Stores. Ironic huh.

[riverbendviewgal]

2. Up in Ontario

Target is doing poorly.. Shelves don't have much merchandise. There is more floor space than anything. People I know do not shop in it anymore....

[Skittles]

4. it wasn't the data breach, it was their dismal response to the data breach

they were so freaking unprepared, as if it never crossed their minds a data breach could occur