Archived stick a fork in us, we're done.

[FormerSpecialist]

tonight has been the WORST close i have EVER experienced at target. and i've got ten years with target under my belt. i've been home a total of 20 minutes(it's 4:10am here) and have to be back in the morning, so i can avoid staying late on christmas eve.... technically it's already christmas eve but whatever...


i just wonder WHAT THE HELL corporate thinks they are doing up there in minneapolis. HELLO! YOU PEOPLE ARE DRIVING THIS COMPANY INTO THE GROUND!!!!!!

the target BRAND and CULTURE is officially DEAD. d e a d dead.

and if i hear one single complaint from ANYONE about our service scores. i am going to efffffffffffing explode!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


:girl_cry2::girl_cry2::girl_cry2:

 

[spikegrouchy]

tonight has been the WORST close i have EVER experienced at target. and i've got ten years with target under my belt. i've been home a total of 20 minutes(it's 4:10am here) and have to be back in the morning, so i can avoid staying late on christmas eve.... technically it's already christmas eve but whatever...


i just wonder WHAT THE HELL corporate thinks they are doing up there in minneapolis. HELLO! YOU PEOPLE ARE DRIVING THIS COMPANY INTO THE GROUND!!!!!!

the target BRAND and CULTURE is officially DEAD. d e a d dead.

and if i hear one single complaint from ANYONE about our service scores. i am going to efffffffffffing explode!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


:girl_cry2::girl_cry2::girl_cry2:

Well, you know what they say,"Sometimes you have to hit rock bottom before things get better!" I don't think we have hit the bottom yet. I am sure it will get much worse before it gets better.

The company is in a state of confusion right now. I don't think that they have a clear direction on where they want to go and how to get wherever that is. If they do know where they want to go, it certainly is not trickling down to the stores and then to the team members.

Hang in there, it CAN only get worse....

 

[commiecorvus]

Well, you know what they say,"Sometimes you have to hit rock bottom before things get better!" I don't think we have hit the bottom yet. I am sure it will get much worse before it gets better.

The company is in a state of confusion right now. I don't think that they have a clear direction on where they want to go and how to get wherever that it. If they do know where they want to go, it certainly is not trickling down to the stores and then to the team members.

Hang in there, it CAN only get worse....

Sad to say I've worked for companies that have gone bankrupt and others that have been bought out by bigger companies so yea ...

it can get worse.

 

[Stuckinsoftlines]

I agree the company probably could have handled this season a little better. Hang in there when the stores slow down hopefully it will get better

 

[insiteful1]

We're not done. It's just Christmas eve, just like it was last year and the year before that. Yesterday was the worst day of the year, just like it was last year and the year before that. It's retail folks. That is how things work. If anything is getting worse, it is the morals of the guests who think they can do ANYTHING they want in the stores. That is the real reason that stores look the way they do. It's the new American culture. The rotting of America. Fun stuff.

 

[watchdog9000]

At this point I just want to get through the Christmas clearance days and THEN maybe a things can go back to being a bit normal.

 

[buliSBI]

Corporate just can't get it that you have to spend money to make money. You can't push RedCards and provide Guest Service if there are barely any TMs to operate the store. Thats one reason why I left.

 

[talan123]

Corporate just can't get it that you have to spend money to make money. You can't push RedCards and provide Guest Service if there are barely any TMs to operate the store. Thats one reason why I left.

Oh no, corporate gets what it takes to make money in the retail business. The problem is that they don't know what they are doing in the financial markets.

Here's a gem that I found in their recent filings with the SEC... (I have way too much time on my hands)

Our period-end gross credit card receivables were $6,144 million at October 29, 2011 compared with $6,730 million at October 30, 2010, a decrease of 8.7 percent. Average gross credit card receivables during the nine months ended October 29, 2011 decreased 12.3 percent compared with the nine months ended October 30, 2010. This change was driven by the factors indicated in the U.S. Credit Card Segment above. Due to declines in gross credit card receivables, TR LLC repaid JPMC $226 million and $530 million during the first nine months of 2011 and 2010, respectively. To the extent the receivables balance continues to decline, TR LLC expects to continue to pay JPMC a pro rata portion of principal collections such that the portion owned by JPMC would not exceed 47 percent.

Why in the world they doing these kinds of deals with JP Morgan is beyond me.

 

[StateofTarget]

Oh no, corporate gets what it takes to make money in the retail business. The problem is that they don't know what they are doing in the financial markets.

Here's a gem that I found in their recent filings with the SEC... (I have way too much time on my hands)



Why in the world they doing these kinds of deals with JP Morgan is beyond me.

It is because Chase is underwriting the loans Target makes when they extend credit on Target credit cards. (RED CARDS)

Target doesn't have millions/billions of dollars to lend people, therefore they need a bank to help them foot the bill. So Target issues a person a $2000 credit line, and Chase is actually lending the money. Think of it this way - let's say Target has issued just 1 million red cards to guests. (actually they have probably issued many more, but lets just say) Let's also say each guest got a $1000 credit line. That is a total extension of $1,000,000,000 in credit. See why they need a bank to underwrite the loans now?

The loss you quoted is referring to guests who have defaulted on their red card. (i.e. they ran up $1000 on the card and then never paid it back) As you can see, a lot of people are doing that..... and is that really surprising? We hand out credit cards to damn near everyone, including people that look like complete lowlifes, 18-19 years olds, and early 20 somethings. Think they actually pay their bills all of the time? Hell, just yesterday I got a Redcard in electronics. Instant approval for $3000. Know what the guest said? "Wow that's cool! I don't even have a job right now"

Also the quote you cited suggests that Target is footing at least part of the bill for these defaults.

 

[talan123]

That I know, the need for the underwriting of said loans needs a guranteer of something larger than Target or Target Financial Services.

Going to Wall Street to underwrite loans right now, after what happened in 2008, seems so damn scary to me. It's like going to a mortician for surgery. Sure he may get the job done but it's not like he is going to lose when you die.

 

[Hardlinesmaster]

hang in there, former!

 

[tgtfla]

yes,hang in there,with the kind of exhaustion closing tm suffer,this is in a way the worst of times,it is not over for another week or two but we will settle down to some new kind of normality in early jan,we can only hope that our guests have some money to spend.
merry Christmas to all of you.

 

[mrknownothing]

merry Christmas to all of you.

Merry Christmas to you too.

 

[redeye58]

My wish for you all is a hot shower/soaking bath & a restful night's sleep.
Merry Christmas - Froeliche Weinachten - Feliz Navidad - Joeux Noel - Happy Hanukkah - Happy Kwanzaa.
May next year be better than this & our troubles left behind.

 

[mrknownothing]

Merry Christmas - Froeliche Weinachten - Feliz Navidad - Joeux Noel

Also God Jul and Buon Natale.

 

[Hardlinesmaster]

Merry Christmas, everyone!