Retailer Target pins missed financial goals on lackluster Apple device sales

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Comments

  • Reply 21 of 53
    welshdogwelshdog Posts: 1,694member
    sog35 said:
    2015 Target sales up: Yes, we at Target management have done an excellent job in our programs to increase sales.
    2016 Target sales down: Its all Apple's fault

    Where was Target praising Apple last year when they had high sales? No where to be seen. This is total and utter bullcrap. Personally if I owned Target stock (which I don't) I would sell it all. That managment's explanation for missing sales is blaming Apple just shows how incompetent they are.
    I just read several articles where Target managment attributed big 2015 sales numbers to Apple products.  So if Apple sales are down in 2016 isn't it only fair for them to mention that?
  • Reply 22 of 53
    Hi Target. I don't shop for expensive Apple devices at a home goods store.
    williamlondondysamoria
  • Reply 23 of 53
    what nonsense. target is a household goods store, you get clothes, cleaning supplies, maybe some food, and household goods. they're not an electronics store and counting on it to be would be folly. 

    now take NFC payments like Apple Pay already. 
    Side note: Target just partnered with CVS to handle their pharmacy. And of course CVS has their crappy CVS Pay competitor. I would not expect Target to be into Apple Pay anytime soon.
    dysamoria
  • Reply 24 of 53
    sockrolidsockrolid Posts: 2,788member
    These folks sustain one of the biggest consumer data breaches in American history, then claim to be an electronics retailer.

    Give me a break.
    I go to Target about once every two years.
    But when I do, I pay with cash.

    And yes, the CVS takeover of Target's pharmacy business explains why Target stores don't support  Pay.
    Target management must have known long in advance, and CVS told them "we'll have our own system."
    When I do go to CVS, I tell the clerk "I have a CVS card but I choose not to use it."  And pay in cash.
    edited August 2016 Deelron
  • Reply 25 of 53
    You know why Target got kicked in the nuts?  NO PAY!  And I don't just mean for purchasing the Apple product either. 

    Ive actually been in line behind people who unloaded their entire cart on to the conveyer belt. Then try to use Pay. The sales register person says "we don't take that" and they walk out leaving everything on the conveyor belt. They have to call a manager to clear it.. And not just once has this happened. Now when I get in line behind a big order I remind them "Target doesn't take Pay". they thank me. Oh they still walk out leaving their stuff basket but at least they didn't unpack it. 

    All the credit cards I have give back 5% when buying apple purchases BUT it has to be run through Pay. So why would you buy Apple through target and get double screwed?  We only shop there because their card gives 5% when using their card 
    edited August 2016
  • Reply 26 of 53
    MacProMacPro Posts: 18,367member
    So Target's other lines are so weak they are that dependent upon Apple sales?  Really?
    pscooter63hodarwilliamlondon
  • Reply 27 of 53
    what nonsense. target is a household goods store, you get clothes, cleaning supplies, maybe some food, and household goods. they're not an electronics store and counting on it to be would be folly. 

    now take NFC payments like Apple Pay already. 
    you can also apparently buy Apple iPhones and Samsung phones the later of which is cheaper and a better match for the lower income Target shoppers. No matter how superior the iPhone is to anything in the Android world I believe we are witnessing the return of the Mac vs Windows dynamic which means "good enough" is often good enough for most people. 
  • Reply 28 of 53
    rogifan_newrogifan_new Posts: 4,191member
    If Target is so shitty, who does Apple sell its premium products there?
    ronn
  • Reply 29 of 53
    nolamacguynolamacguy Posts: 4,758member
    Right. It has nothing to do with the endless horrible press they got for trying a Social Justice Warrior experiment on their customer base.

    lol.
    it's not an experiment. MN, where target is based, has had these bathrooms laws in place for years. you just heard about it now because the GOP lost the gays war. 

    if you think a few angry bigots caused a dent in target's sales you're weighting thier import too highly.  
    edited August 2016 ronnwilliamlondondtidmoretopper24hoursdysamoriamrboba1
  • Reply 30 of 53
    sog35 said:
    . Amazon is selling cheaper than anyone because their stupid Wall Street a-holes don't care if they keep losing billions every year.
    Uhhh, you keep using that word...
     
    https://www.sec.gov/Archives/edgar/data/1018724/000101872416000170/amzn-20151231xex991.htm
    Amazon Net income Full Year 2015 was $596 million


    dysamoria
  • Reply 31 of 53
    latifbplatifbp Posts: 544member
    mazda 3s said:

    Maybe accept ApplePay?
    They have it in their Target app, but not in-store. I don't even use it in the app because -- surprise surprise -- my Target RedCard isn't supported, so why the hell would I forgo my 5% discount.
    Because security and peace of mind is well worth whatever you save with that 5%
    pscooter63
  • Reply 32 of 53
    SpamSandwichSpamSandwich Posts: 31,396member
    Again, this is the spin from AppleInsider. I hate it when I (or someone else, for that matter) relies on news about Apple from AI without consulting a secondary source. I get lazy about going to other sources just like anyone.

    Here's an alternative source which makes no mention of anti-Apple panic:

    http://www.cnbc.com/2016/08/17/target-reports-second-quarter-earnings.html
    "Target on Wednesday reported earnings that topped Wall Street's expectations by 11 cents a share and rose slightly over the prior year, while revenue was roughly in line. 
    Still, the company lowered its guidance for the full year, citing what it characterized as a "difficult" retail environment. The retailer's shares fell 5 percent in premarket trading.
    "While we recognize there are opportunities in the business, and are addressing the challenges we are facing in a difficult retail environment, we are pleased that our team delivered second quarter profitability above our expectations," Chairman and CEO Brian Cornell said in a statement. 
    The bull's-eye retailer said it earned $1.23 a share in the fiscal second quarter on $16.17 billion in revenue. Analysts had expected Target to report earnings of $1.12 a share on $16.18 billion in revenue. 
    In last year's second quarter, Target earned $1.22 a share on sales of $17.43 billion. The company completed the sale of its pharmacy business to CVS in December, which has pressured its revenue. 
    Target's comparable sales decline of 1.1 percent fell in line with a Thomson Reuters forecast, which called for a 1 percent drop. It was the first time this metric was negative since first quarter 2014, and was driven lower by fewer transactions. The number of transactions is often used as a gauge for traffic. 
    The company's digital sales growth likewise slowed, increasing by more than 16 percent during the quarter. That compares with a 23 percent lift in the first quarter and a 30 percent gain in the prior-year period. 
    Because only about 4 percent of Target's sales come from digital, this number should be higher than the overall market's mid-teen e-commerce growth, JP Morgan analyst Chris Horvers told CNBC's "Squawk Box.""
    edited August 2016 pscooter63
  • Reply 33 of 53
    mytdavemytdave Posts: 438member
    I stopped shopping at Target because they let CVS take over the pharmacy, and because they let perverts into the women's restrooms. It really is that simple. Has nothing to do with Apple goodies, which previously I didn't purchase from there anyway.
    toranagahodarhamiltonrrwatch
  • Reply 34 of 53
    SpamSandwichSpamSandwich Posts: 31,396member
    mytdave said:
    I stopped shopping at Target because they let CVS take over the pharmacy, and because they let perverts into the women's restrooms. It really is that simple. Has nothing to do with Apple goodies, which previously I didn't purchase from there anyway.
    Um... what?
    potatoleeksoupwilliamlondondysamoria
  • Reply 35 of 53
    Mike WuertheleMike Wuerthele Posts: 4,871administrator
    Again, this is the spin from AppleInsider. I hate it when I (or someone else, for that matter) relies on news about Apple from AI without consulting a secondary source. I get lazy about going to other sources just like anyone.

    Here's an alternative source which makes no mention of anti-Apple panic:

    http://www.cnbc.com/2016/08/17/target-reports-second-quarter-earnings.html
    "Target on Wednesday reported earnings that topped Wall Street's expectations by 11 cents a share and rose slightly over the prior year, while revenue was roughly in line. 
    Still, the company lowered its guidance for the full year, citing what it characterized as a "difficult" retail environment. The retailer's shares fell 5 percent in premarket trading.
    "While we recognize there are opportunities in the business, and are addressing the challenges we are facing in a difficult retail environment, we are pleased that our team delivered second quarter profitability above our expectations," Chairman and CEO Brian Cornell said in a statement. 
    The bull's-eye retailer said it earned $1.23 a share in the fiscal second quarter on $16.17 billion in revenue. Analysts had expected Target to report earnings of $1.12 a share on $16.18 billion in revenue. 
    In last year's second quarter, Target earned $1.22 a share on sales of $17.43 billion. The company completed the sale of its pharmacy business to CVS in December, which has pressured its revenue. 
    Target's comparable sales decline of 1.1 percent fell in line with a Thomson Reuters forecast, which called for a 1 percent drop. It was the first time this metric was negative since first quarter 2014, and was driven lower by fewer transactions. The number of transactions is often used as a gauge for traffic. 
    The company's digital sales growth likewise slowed, increasing by more than 16 percent during the quarter. That compares with a 23 percent lift in the first quarter and a 30 percent gain in the prior-year period. 
    Because only about 4 percent of Target's sales come from digital, this number should be higher than the overall market's mid-teen e-commerce growth, JP Morgan analyst Chris Horvers told CNBC's "Squawk Box.""
    Try again. The 20 percent is straight from the CEO's mouth, in Target's question and answer session.

    CNBC is a venue, drawing from the original source like we did.
  • Reply 36 of 53
    hexclockhexclock Posts: 592member
    Rautha said:
    sog35 said:
    Uhhh, you keep using that word...
     
    https://www.sec.gov/Archives/edgar/data/1018724/000101872416000170/amzn-20151231xex991.htm
    Amazon Net income Full Year 2015 was $596 million


    Amazon has a PE of 900+ and a profit margin of 1.68% , which is terrible. 
    ronnpotatoleeksouptoranaga
  • Reply 37 of 53
    mac_dogmac_dog Posts: 703member
    Are you fucking kidding? Sounds like a typical management excuse for not taking responsibility when they can't blame anyone lower on the food chain. Deflecting is the last resort. 
    toranaga
  • Reply 38 of 53
    mazda 3s said:
    I love me some Target (Cartwheel, RedCard, RedPerks), but that is a bulls*** explanation for missed earnings.
    Agreed.   I used to like Target because they carried a more diverse array of goods than the standard line at Walmart. But they gave up that edge when they decided to become a grocery store, and gutted 1/4 of the store to make way for frozen junk food.  They can blame apple, but not Apple.
  • Reply 39 of 53
    hodarhodar Posts: 278member

    So, on the HUNDREDS of brands sold at Target - their huge losses are all Apple's fault?

    Or could it be that their Tyrannical decision to let any degenerate who wants to "identify" as a woman, into the woman's restroom; is having the exact result that was promised?  People with JOBS, you know, the customers who actually shop there; you know, the 99.998% of Americans' with an actual income who are not trans-sexual and believe that your gender is defined by your plumbing; and is not "all in your head". 

    We refuse to set food in Target - we go out of our way to shop ANYWHERE else.

    Target told us to put up with it, or go elsewhere.  We are going elsewhere; and no matter how much they beg, no matter how much they apologize; they showed us their true colors; and we are showing them ours.  They can go bankrupt, they can go broke - we don't care.  Good riddance to trash.  There are companies that respect my wife's privacy and safety that deserve our business; and that's what they are going to get.

    Used to be a company called Colors of Benetton that pulled this sort of crap - where are they now?

    toranaga
  • Reply 40 of 53
    razormaid said:
    You know why Target got kicked in the nuts?  NO PAY!  And I don't just mean for purchasing the Apple product either. 

    Ive actually been in line behind people who unloaded their entire cart on to the conveyer belt. Then try to use Pay. The sales register person says "we don't take that" and they walk out leaving everything on the conveyor belt. They have to call a manager to clear it.. And not just once has this happened. Now when I get in line behind a big order I remind them "Target doesn't take Pay". they thank me. Oh they still walk out leaving their stuff basket but at least they didn't unpack it. 

    All the credit cards I have give back 5% when buying apple purchases BUT it has to be run through Pay. So why would you buy Apple through target and get double screwed?  We only shop there because their card gives 5% when using their card 
    I like Apple Pay, but I cannot imagine it being such a big pull that a person would leave their entire cart behind. They don't have any cards in their wallet?
    gatorguy
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