Target shares drop on slowed fourth quarter

  • Article by: STAFF AND WIRE REPORTS
  • Updated: February 27, 2013 - 9:34 PM

Earnings fell as the discounter had to sell off Neiman Marcus offerings at big markdowns.

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dlzabzFeb. 27, 1310:33 PM

Thank you President Obama for the robust economic recovery and low unemployment rates.

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popsantaFeb. 28, 13 6:37 AM

>>Thank you President Obama for the robust >>economic recovery and low unemployment rates. You do realize unemployment has been falling (slowly) for 4 years, and that -employment- is the highest it has been since 2008? Slow yes, but at least it is going in the right direction.

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lakeelmo99Feb. 28, 13 7:45 AM

Around Christmas I stopped at a Target for wrapping paper. When they told me it was all in the farthest back corner of the store I turned around and left. These placement tactics only cause buyers to lose trust. And when your store is two football fields long it's really an inconvenience too. I took my business elsewhere and haven't been back.

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brlattimFeb. 28, 1310:38 AM

Having worked at Target for 9 years, the ship has been slowing for around 6-7 of those. Steinhafel just doesn't have the vision Ulrich had, and management there is getting pretty turnstyle. When I realized I was not supported in sharing unique or counter ideas, I realized something was wrong. If you work there and have revolutionary ideas they will treat you as an England did us back in the day.

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swmnguyFeb. 28, 1310:56 AM

Wal-Mart isn't doing very well now either, and let's not even mention JCP. Mass retail has to target a vibrant middle class. The key demographic is 25-50 year-old women, with 1x to 2x the median income ($50k - $100k household). That's been a huge demographic since WWII, and the key to America's rise. That's also the demographic that's been suffering the most over the past few decades. The housing finance bubble can be seen on a macro level as an attempt to put more short-term money into that demographic, but at the cost of ruinous and unpayable long-term debt. The rise of the secondary debt market is not the fleecing, but the skinning, of the middle class. This didn't happen overnight, and it's now so far down the road it's hard to see how it will be reversed.

The poor still don't have any money, and the fact that the rich are getting richer doesn't mean they need more stuff. Besides, they don't buy the stuff they find aspirational at mass retailers.

In the meantime, mass retailers of all stripes are going to have a very hard time.

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skinnyminnieFeb. 28, 1312:35 PM

I saw the Neiman Marcus merchandise. It was a bunch of weird crap. Strange looking bicycles, stupid looking suitcases, etc. No wonder it didn't sell.

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dlzabzFeb. 28, 13 2:55 PM

"You do realize unemployment has been falling (slowly) for 4 years, and that -employment- is the highest it has been since 2008? Slow yes, but at least it is going in the right direction."...yes when Obama took office the unemployment rate was 7.8% and he has shrunk that to 7.9%. GDP for Q4 2012 was just revised significantly upward from -0.1 to 0.1.

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