Archived FY2016

[HRZone]

Target Reports Fourth Quarter and Full-Year 2016 Earnings

The email from Cornell was especially gloomy.

 

[SrTLall]

Awesome, stock down 8%, 12 points! If you don't have Target stock, buy it now!

 

[Tired Grunt]

Foot traffic wasn't expected to be strong, and while e-commerce segment did grow at double digits, it's still not enough to offset physical retail ops.

What really stood out was their stock repurchase, spending more than half a billion to buy back company shares with an average cost in the $70s was a terrible call considering the share price has now dropped to sub $60s. Even with all that outstanding shares being retired, their EPS still came in lower than expected. With forward guidance coming in weak as well, they'll need to work up a new strategy, or change management.

 

[SnorlaxTM]

Awesome, stock down 8%, 12 points! If you don't have Target stock, buy it now!

Probably better to buy stock that will actually make you money

 

[On6]

Awesome, stock down 8%, 12 points! If you don't have Target stock, buy it now!

That only works if you think the stock will go back up.

I don't see that happening anytime soon.

 

[qmosqueen]

sad news for Target

 

[Bosch]

sad news for Target

But not a surprise.

 

[smashandthrash]

Lol they skipped over the stock info during our meeting, of course.

Thanks for posting

 

[HRZone]

Lol they skipped over the stock info during our meeting, of course.

Thanks for posting

I brought it up during huddle and the LOD changed the subject and announced no smart huddle

 

[Circle9]

I brought it up during huddle and the LOD changed the subject and announced no smart huddle

I'm going to use this next time an ETL starts bugging me.

 

[smashandthrash]

I brought it up during huddle and the LOD changed the subject and announced no smart huddle

Ahahaha

 

[mammoth]

I think Cornell needs to go. No productive leadership. Only cares about shareholders. I understand it's his job to make the company money with his decisions, but it's also his job to create an environment and culture that allows for that profit to occur organically; not slashing everything to the point where we are barely treading water.

The email he sent out was very scary. With no real sense of productive change coming. He implied that we were going to work faster and harder with less resources. I don't understand how much less we could have to work with.

 

[signingminion]

Target’s 2017 guidance reflects the impact of the Company’s transition to a new financial model, which will be covered in the Company’s meeting with the financial community later today.

Why doesn't this sound promising?

 

[Bosch]

Why doesn't this sound promising?

More hour cuts. Hell already with the new In-stocks process we are already down to one person for 4hrs plus me for a 7hr shift. And on the new schedule I have zero In-stocks hours.. Go figure.. Guess no one is doing in stocks anymore.. 🙁

 

[HRZone]

@Rock Lobster you seem very in tune with the company I would love your thoughts.

You have brought up that Cornell is a much more pragmatic CEO than Greg. I don't know what else he could have said today but it did seem very rah rah and forced. "We will win retail"

Really?

 

[Hardlinesmaster]

Our stock is at 52.00 a share. The good thing done by spot corp was that stores who were below sales didn't get penalize by reduce payroll hours.

 

[garbage]

I think Cornell needs to go. No productive leadership. Only cares about shareholders. I understand it's his job to make the company money with his decisions, but it's also his job to create an environment and culture that allows for that profit to occur organically; not slashing everything to the point where we are barely treading water.

The email he sent out was very scary. With no real sense of productive change coming. He implied that we were going to work faster and harder with less resources. I don't understand how much less we could have to work with.

This!!!

Walmart is still recovering from his leadership there. He's just a hack and slash CEO. Cuts costs across the board (minus upper executive company leadership) and doesn't contribute anything to the businesses he runs.

Shareholders think he does a great job because profits skyrocket right after he takes over, yet that's only because he cut costs to the bone. A year or two, the cost cuts hit the company like a fucking freight train, and he jumps ship with a golden parachute to another business. Rinse and repeat.

 

[Panda13]

Wonder what his bonus was for 2016? Looking forward to my 30 cents raise which with cut hours is closer to -30 cents (or more)

 

[LogisticsFox]

The good thing done by spot corp was that stores who were below sales didn't get penalize by reduce payroll hours.

This is accurate. We played it tight with hours in February so when they announced that we weren't being affected by negative flex, we suddenly had 10 days or so to spend the roughly 500 hours it put back in our pockets. I was able to come in on my day off to wrap up reviews AND I was able to bring in my TMs enough to be able to have an entire day for cleaning and projects. All the other stores in my district weren't as lucky/smart with their hours and had to cut a bunch since the line between allocation and negative flex became a lot less skewed. My SO is POG at one of those other stores and was cut two whole shifts last week.

 

[qmosqueen]

They pull the numbers game this time every year to justify the 5 cent raises.

 

[signingminion]

Our stock is at 52.00 a share. The good thing done by spot corp was that stores who were below sales didn't get penalize by reduce payroll hours.

We are the only store making sales in our group? District? Either way... we're still handing out hours like scrooge and we are comping 3%. Where's the reward for not losing money? Doubt I'll see it in my raise.

 

[BoxCutter]

And on the new schedule I have zero In-stocks hours.. Go figure.. Guess no one is doing in stocks anymore.. 🙁

 

[Unsilent]

We are the only store making sales in our group? District? Either way... we're still handing out hours like scrooge and we are comping 3%. Where's the reward for not losing money? Doubt I'll see it in my raise.

You won't see it, but your STL and ETLs sure will.

 

[Tyrant]

You won't see it, but your STL and ETLs sure will.

Oh thank god, SOMEONE needs to look out for those poor souls.

 

[signingminion]

Oh thank god, SOMEONE needs to look out for those poor souls.

Right, they Just. Can't. Live. Without. Their. Sbux.

District was the realm referenced. Next down is missing sales by 40k. So over 60k in sales between us. Which is our average goal for a Monday.