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Target's Four-Year Sales Stagnation | Fast Five Shorts · Omni Talk Retail

• 0:00
  The
• 0:00
  last
• 0:00
  week
• 0:01
  saw
• 0:01
  a
• 0:01
  flurry
• 0:02
  of
• 0:02
  retail
• 0:02
  earnings
• 0:03
  announcements
• 0:03
  and
• 0:03
  here
• 0:04
  are
• 0:04
  some
• 0:04
  of
• 0:04
  the
• 0:04
  highlights.
• 0:05
  Home
• 0:06
  Depot
• 0:06
  kicked
• 0:06
  everything
• 0:07
  off
• 0:07
  last
• 0:07
  week
• 0:08
  by
• 0:08
  cutting
• 0:08
  its
• 0:09
  earnings
• 0:09
  forecast.
• 0:10
  Target
• 0:10
  then
• 0:11
  followed
• 0:11
  with
• 0:11
  a
• 0:12
  similar
• 0:12
  outlook
• 0:13
  while
• 0:13
  Walmart,
• 0:14
  tjx,
• 0:14
  Ross
• 0:15
  stores
• 0:15
  and
• 0:15
  Best
• 0:15
  Buy
• 0:16
  all
• 0:16
  raised
• 0:17
  their
• 0:17
  financial
• 0:17
  outlooks
• 0:18
  across
• 0:18
  the
• 0:18
  back
• 0:19
  half
• 0:19
  of
• 0:19
  the
• 0:19
  year.
• 0:20
  Chris,
• 0:21
  what
• 0:21
  stood
• 0:21
  out
• 0:21
  to
• 0:21
  you
• 0:22
  most
• 0:22
  from
• 0:23
  this
• 0:23
  week's
• 0:23
  past
• 0:24
  earnings
• 0:24
  announcements?
• 0:26
  Oh,
• 0:26
  we're
• 0:26
  coming
• 0:26
  in
• 0:27
  hot.
• 0:27
  That
• 0:27
  and
• 0:27
  I,
• 0:27
  I
• 0:28
  don't
• 0:28
  know
• 0:28
  about
• 0:28
  you,
• 0:28
  but
• 0:29
  I'm
• 0:29
  going
• 0:29
  to
• 0:29
  zero
• 0:29
  right
• 0:29
  in
• 0:30
  on
• 0:30
  it
• 0:30
  and
• 0:30
  put
• 0:30
  a
• 0:30
  big
• 0:31
  bullseye
• 0:31
  on
• 0:32
  the
• 0:32
  bullseye
• 0:32
  itself.
• 0:33
  Target,
• 0:33
  because
• 0:34
  Target
• 0:34
  was
• 0:34
  the
• 0:34
  real
• 0:34
  turkey
• 0:35
  of
• 0:35
  the
• 0:35
  past
• 0:35
  week.
• 0:36
  It
• 0:36
  was
• 0:36
  without
• 0:36
  a
• 0:37
  doubt,
• 0:37
  sales
• 0:37
  were,
• 0:38
  sales
• 0:38
  were
• 0:38
  quite
• 0:38
  honestly
• 0:38
  atrocious.
• 0:39
  Like
• 0:39
  I
• 0:39
  did
• 0:39
  the
• 0:39
  math.
• 0:40
  Did
• 0:40
  you
• 0:40
  know
• 0:40
  the
• 0:41
  four
• 0:41
  year,
• 0:41
  not
• 0:42
  the
• 0:42
  two
• 0:42
  year,
• 0:42
  not
• 0:42
  the
• 0:43
  three
• 0:43
  year,
• 0:43
  but
• 0:43
  the
• 0:43
  four
• 0:44
  year
• 0:45
  quarter
• 0:45
  three
• 0:46
  stack
• 0:46
  is
• 0:47
  now
• 0:47
  negative.
• 0:47
  The
• 0:48
  Q3
• 0:48
  stack
• 0:48
  over
• 0:49
  four
• 0:49
  years
• 0:49
  is
• 0:49
  negative.
• 0:50
  That
• 0:51
  means
• 0:51
  Target
• 0:51
  hasn't
• 0:52
  grown
• 0:52
  a
• 0:52
  stitch
• 0:53
  and
• 0:53
  in
• 0:53
  the
• 0:53
  last
• 0:54
  four
• 0:54
  years.
• 0:55
  But
• 0:55
  in,
• 0:56
  when
• 0:56
  you
• 0:56
  put
• 0:56
  that
• 0:56
  story
• 0:57
  in
• 0:57
  context
• 0:57
  it's
• 0:57
  even
• 0:57
  more
• 0:58
  telling
• 0:58
  because
• 0:58
  like
• 0:58
  you
• 0:58
  said,
• 0:59
  like
• 0:59
  Walmart
• 0:59
  and
• 1:00
  all
• 1:00
  the
• 1:00
  discounters
• 1:01
  did
• 1:01
  fine.
• 1:02
  Best
• 1:02
  Buy,
• 1:02
  which
• 1:03
  sells
• 1:03
  a
• 1:04
  hell
• 1:04
  of
• 1:04
  a
• 1:04
  lot
• 1:04
  of
• 1:04
  discretionary
• 1:05
  products,
• 1:05
  they
• 1:06
  also
• 1:06
  did
• 1:06
  pretty
• 1:07
  well
• 1:07
  and
• 1:07
  even
• 1:07
  Abercrombie,
• 1:08
  Kohl's
• 1:09
  and
• 1:09
  Gap
• 1:09
  did
• 1:10
  better
• 1:10
  than
• 1:10
  expectations.
• 1:11
  So,
• 1:11
  so
• 1:12
  like
• 1:12
  what
• 1:12
  the
• 1:12
  heck,
• 1:12
  Target,
• 1:13
  I
• 1:13
  mean
• 1:13
  you're
• 1:13
  just
• 1:13
  standing
• 1:14
  out
• 1:14
  like
• 1:14
  a
• 1:14
  sore
• 1:15
  thumb
• 1:15
  in
• 1:15
  the
• 1:15
  landscape
• 1:16
  of
• 1:16
  earnings
• 1:16
  in
• 1:16
  my
• 1:16
  opinion.
• 1:18
  Yeah,
• 1:18
  I
• 1:18
  mean
• 1:18
  I
• 1:19
  guess
• 1:19
  I
• 1:19
  would
• 1:19
  challenge
• 1:20
  you
• 1:20
  in
• 1:20
  saying
• 1:20
  like
• 1:21
  what
• 1:21
  was
• 1:21
  your
• 1:21
  expectation
• 1:22
  and
• 1:22
  all
• 1:22
  the
• 1:23
  retail
• 1:23
  analysts
• 1:24
  out
• 1:24
  there,
• 1:24
  I
• 1:24
  think
• 1:24
  it's
• 1:25
  EAS
• 1:25
  easy
• 1:25
  to
• 1:26
  kick
• 1:26
  Target
• 1:26
  while
• 1:26
  they're
• 1:27
  down,
• 1:27
  but
• 1:27
  they're
• 1:28
  in
• 1:28
  the
• 1:28
  middle
• 1:28
  of
• 1:28
  a
• 1:28
  CEO
• 1:29
  change.
• 1:29
  They
• 1:29
  just
• 1:29
  laid
• 1:30
  off
• 1:30
  1800
• 1:30
  people.
• 1:31
  Like
• 1:31
  what
• 1:31
  were
• 1:32
  we
• 1:32
  expecting
• 1:33
  this
• 1:33
  quarter's
• 1:34
  results
• 1:34
  to
• 1:34
  be?
• 1:34
  If
• 1:35
  we're
• 1:35
  being
• 1:35
  honest
• 1:35
  with
• 1:35
  ourselves?
• 1:36
  I
• 1:36
  think
• 1:38
  they've,
• 1:38
  yes,
• 1:39
  they've
• 1:39
  got
• 1:39
  a
• 1:39
  turnaround
• 1:40
  that
• 1:40
  they've
• 1:40
  got
• 1:40
  on
• 1:40
  their
• 1:40
  hands.
• 1:41
  They've
• 1:41
  got
• 1:41
  a
• 1:41
  new
• 1:41
  CEO
• 1:42
  coming
• 1:42
  in
• 1:42
  place
• 1:42
  hopefully
• 1:43
  that
• 1:43
  will
• 1:43
  be
• 1:43
  working
• 1:44
  on
• 1:44
  that.
• 1:44
  And
• 1:44
  I
• 1:44
  think
• 1:45
  some
• 1:45
  things
• 1:45
  even
• 1:46
  that
• 1:46
  they've
• 1:46
  started
• 1:47
  to
• 1:47
  push
• 1:47
  on
• 1:48
  which
• 1:48
  we'll
• 1:48
  talk
• 1:48
  about
• 1:48
  in
• 1:49
  the
• 1:49
  next
• 1:49
  headlines
• 1:49
  that
• 1:49
  are,
• 1:50
  that
• 1:50
  are
• 1:50
  showing
• 1:50
  that
• 1:51
  they
• 1:51
  are
• 1:51
  making
• 1:52
  some
• 1:52
  moves.
• 1:53
  And
• 1:53
  I,
• 1:54
  I
• 1:54
  think
• 1:54
  you're
• 1:54
  right
• 1:54
  there.
• 1:55
  It's
• 1:55
  clear,
• 1:55
  you
• 1:56
  know
• 1:56
  that
• 1:56
  because
• 1:56
  of
• 1:57
  Target's
• 1:57
  poor
• 1:57
  earnings
• 1:58
  this
• 1:58
  quarter,
• 1:59
  Walmart's
• 2:00
  getting
• 2:00
  their
• 2:00
  business
• 2:00
  for
• 2:01
  essentials.
• 2:02
  You
• 2:02
  have
• 2:02
  tjx,
• 2:03
  Abercrombie
• 2:04
  and
• 2:04
  Gap
• 2:04
  who
• 2:04
  are
• 2:05
  getting
• 2:05
  their
• 2:05
  apparel
• 2:06
  business
• 2:06
  would
• 2:06
  be
• 2:06
  my
• 2:06
  guess.
• 2:07
  And
• 2:07
  then
• 2:07
  HomeGoods
• 2:08
  again
• 2:09
  part
• 2:09
  of
• 2:09
  the
• 2:09
  TGX
• 2:10
  umbrella,
• 2:10
  who's
• 2:10
  getting
• 2:10
  the
• 2:11
  home
• 2:11
  interest
• 2:12
  from
• 2:12
  Those
• 2:12
  Target
• 2:12
  shoppers
• 2:13
  who
• 2:13
  have
• 2:13
  either
• 2:14
  left
• 2:14
  or
• 2:14
  are
• 2:15
  looking
• 2:15
  at
• 2:15
  other
• 2:15
  options
• 2:16
  right
• 2:16
  now.
• 2:16
  But
• 2:17
  I
• 2:17
  mean,
• 2:17
  it
• 2:18
  really
• 2:18
  wasn't
• 2:19
  surprising
• 2:19
  to
• 2:20
  me.
• 2:20
  I'm
• 2:20
  not
• 2:20
  expecting
• 2:21
  that
• 2:21
  we're
• 2:21
  going
• 2:21
  to
• 2:21
  see
• 2:21
  a
• 2:22
  banner
• 2:22
  year
• 2:22
  coming
• 2:23
  of
• 2:23
  quarter,
• 2:24
  sorry,
• 2:24
  coming
• 2:24
  of
• 2:24
  Target
• 2:25
  anytime
• 2:25
  soon
• 2:26
  because
• 2:27
  they're
• 2:27
  in
• 2:27
  this
• 2:27
  turnaround
• 2:28
  and
• 2:28
  I
• 2:28
  would
• 2:28
  expect
• 2:28
  that
• 2:28
  of
• 2:29
  any
• 2:29
  retailer
• 2:29
  I
• 2:29
  think
• 2:30
  in
• 2:30
  their
• 2:30
  similar
• 2:31
  position.
• 2:32
  So,
• 2:32
  so,
• 2:33
  I
• 2:33
  mean,
• 2:33
  but
• 2:33
  basically.
• 2:33
  So
• 2:33
  you're
• 2:34
  like,
• 2:34
  you're
• 2:34
  okay
• 2:34
  with
• 2:34
  it?
• 2:34
  Like,
• 2:34
  see,
• 2:35
  to
• 2:35
  me
• 2:35
  it
• 2:35
  is
• 2:35
  a
• 2:35
  surprise
• 2:36
  because
• 2:36
  like
• 2:36
  it's
• 2:36
  the
• 2:37
  same
• 2:37
  regime,
• 2:37
  it's
• 2:38
  the
• 2:38
  same
• 2:38
  regime
• 2:38
  that
• 2:38
  you've
• 2:39
  handed
• 2:39
  over
• 2:39
  to.
• 2:39
  So
• 2:40
  I
• 2:40
  would
• 2:40
  expect
• 2:40
  some
• 2:41
  improvement
• 2:41
  if
• 2:42
  you're
• 2:42
  believing
• 2:42
  in
• 2:42
  that
• 2:43
  regime.
• 2:43
  And
• 2:43
  then
• 2:44
  the
• 2:44
  other
• 2:44
  point
• 2:44
  of
• 2:44
  it
• 2:44
  too
• 2:44
  is
• 2:44
  like
• 2:45
  Kohl's
• 2:45
  is
• 2:45
  in
• 2:45
  the
• 2:45
  same
• 2:46
  situation.
• 2:46
  They
• 2:46
  have
• 2:46
  an
• 2:46
  interim
• 2:47
  CEO
• 2:47
  that's
• 2:47
  potentially
• 2:48
  doing
• 2:48
  better
• 2:49
  and
• 2:49
  just
• 2:49
  got
• 2:49
  named
• 2:50
  the
• 2:50
  full
• 2:50
  time
• 2:50
  CEO.
• 2:51
  So
• 2:51
  like
• 2:51
  they're
• 2:52
  in
• 2:52
  the
• 2:52
  same
• 2:52
  exact
• 2:53
  situation
• 2:53
  and
• 2:53
  yet
• 2:54
  Target
• 2:54
  sticks
• 2:54
  out
• 2:55
  to
• 2:55
  me.
• 2:55
  So
• 2:55
  I
• 2:55
  don't
• 2:55
  know.
• 2:56
  Anything
• 2:56
  else
• 2:56
  you
• 2:56
  want
• 2:56
  to
• 2:57
  add
• 2:57
  there?
• 2:58
  No,
• 2:58
  I
• 2:58
  think,
• 2:58
  I
• 2:58
  think
• 2:59
  it's
• 2:59
  just,
• 2:59
  you
• 2:59
  know,
• 3:00
  I,
• 3:00
  again,
• 3:01
  not
• 3:01
  expecting
• 3:02
  to
• 3:02
  see
• 3:02
  anything,
• 3:02
  any
• 3:03
  massive
• 3:03
  changes
• 3:04
  until
• 3:04
  new
• 3:05
  people
• 3:05
  get
• 3:05
  in
• 3:05
  the
• 3:05
  role,
• 3:05
  both
• 3:06
  at
• 3:06
  Kohl's
• 3:06
  with
• 3:07
  their
• 3:07
  new
• 3:07
  CEO
• 3:07
  and
• 3:08
  at
• 3:08
  Target.
• 3:09
  I
• 3:09
  think
• 3:10
  you
• 3:10
  got
• 3:10
  to
• 3:10
  give
• 3:10
  them
• 3:11
  time
• 3:11
  to
• 3:11
  right
• 3:11
  the
• 3:11
  ship.
• 3:12
  And
• 3:12
  I
• 3:12
  think
• 3:12
  that
• 3:12
  we'll
• 3:13
  start
• 3:13
  to
• 3:13
  see,
• 3:13
  see
• 3:14
  either
• 3:15
  whether
• 3:15
  those
• 3:15
  changes
• 3:16
  are
• 3:16
  happening
• 3:16
  with
• 3:16
  new
• 3:17
  leadership
• 3:17
  in
• 3:17
  place
• 3:18
  or
• 3:18
  if,
• 3:18
  if
• 3:19
  it's
• 3:19
  a
• 3:19
  bigger
• 3:20
  problem
• 3:20
  and,
• 3:20
  and
• 3:20
  if
• 3:21
  this
• 3:21
  consistency
• 3:21
  continues
• 3:22
  for
• 3:22
  the
• 3:22
  next
• 3:22
  four
• 3:23
  quarters,
• 3:23
  then
• 3:23
  yeah,
• 3:24
  then
• 3:24
  I,
• 3:25
  then
• 3:25
  I
• 3:25
  think
• 3:25
  I'm
• 3:25
  coming
• 3:26
  over
• 3:26
  to
• 3:26
  your
• 3:26
  side
• 3:26
  and
• 3:27
  I
• 3:27
  can
• 3:27
  understand.
• 3:27
  But
• 3:27
  for
• 3:28
  right
• 3:28
  now,
• 3:29
  it
• 3:29
  was
• 3:29
  not
• 3:29
  surprising
• 3:30
  to
• 3:30
  me
• 3:30
  at
• 3:30
  all.
• 3:30
  It
• 3:30
  just
• 3:31
  kind
• 3:31
  of
• 3:31
  was
• 3:31
  as
• 3:32
  expected.