"Target's funk has been in place for a couple of years now and doesn't have a quick fix," said Charles Sizemore, chief investment officer of Sizemore Capital Management, which owns $220,000 in Target shares. This highlights the ongoing challenges Target faces in reversing years of market share loss and declining sales.
"The fourth quarter is our biggest sales season of the year, and our marketing spend reflects that," a Target spokesperson said, declining further comment. This emphasizes the critical nature of the holiday season for Target's revenue.
"Many retailers have kept a tight lid on spending as shoppers cut back on non-essential purchases. D.A. Davidson analysts expect Target's net advertising spending to rise only 0.11% overall in 2024," indicating the cautious approach Target is taking due to market conditions.
But while recent U.S. credit- and debit-card data point to a small gain for Target, with its shoppers spending slightly more in early December than a year ago, there's little that the Minneapolis-based chain can do this year to reverse the trends that have put it at a disadvantage, investors told Reuters." This statement reflects the challenges Target faces despite minor improvements in shopper spending.
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