The layoff news was supposed to save Target by appeasing our shareholders. Usually there’s a nice big spike when layoffs are announced. This news barely made a blip. Was it worth it?
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I have a 15-25% discount on everything from Target, but I STILL shop at Amazon and Costco...
I think it says something about how low Target has crawled
Well they promoted a finance guy who might be able to get the balance sheet in line, will have a very hard time with developing a comprehensive vision to differentiate Target from its competitors. Rescinding the DEI initiatives is likely a non issue unless you have your pride business counsel blinders on. Most people I know in Target’s target demographic started shopping at Costco, Whole Foods, and Amazon.
@ay …but giving employees the freedom to seek other employment opportunities could be a very good first step towards improving operating margins. Overpaying for ”labor” can be a major business blunder, in my very humble opinion.
Target (TGT = $94.26): TTM Revenue $105.64 Billion, with 440,000 Employees [1] [3]
Costco (COST = $932.14): TTM Revenue: $268.77 Billion, with 333,000 Employees [2] [3]
[1] https://companiesmarketcap.com/target/revenue/
[2] https://companiesmarketcap.com/costco/revenue/
[3] https://companiesmarketcap.com/largest-companies-by-number-of-employees/
@OP the bigger concern is what has happened to the stock since the 11/16/2021 close at $266.39. The recent occasional ”spikes” are probably short squeezes. The short interest has been trending upward; see the attached FINTEL link. [1] Make sure you observe your monthly candlesticks; still more downward pressure. Bottom line, Gross, Operating, and Net Margins have been trending downward for quite some time. [2] This layoff is too small. Needs to be 10x more, in my very humble opinion.
[1] https://fintel.io/ss/us/tgt
[2] https://www.macrotrends.net/stocks/charts/TGT/target/profit-margins
Firing workers isn’t going g to raise the stock when the people who made the terrible decisions are promoted. It’s just bad pr at this point
I think on one of those stock Reddits people mentioned it’s been up 10% since the rumors started. Not sure how accurate that is
It’s not Tuesday yet, let’s see what happens…