Archived Target earnings: Prepare for ‘nothing but awful,’ analyst says

[qmosqueen]

ok just read this article online

Target earnings: Prepare for ‘nothing but awful,’ analyst says
Published: May 16, 2017 4:37 p.m. ET

Target Corp. is expected to announce first-quarter earnings before the opening bell on Wednesday.

Retailers from Macy’s Inc. M, -1.68% to J.C. Penney Co. Inc. JCP, +5.99% have reported earnings and sales misses and seen their stock tumble over recent weeks. Target’s TGT, -1.48% earnings are expected to fall along the same lines, with Macquarie Research analysts preparing for the worst.

Target shares have an average hold rating with a $73.36 target price, 32.5% higher than Monday’s close.




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Target earnings: Prepare for ‘nothing but awful,’ analyst says




what do you think.. i guess we will find out with the first quarter earnings announced tomorrow.

 

[oath2order]

With the new EtoE process and the many changes happening, I'm more focused on what it looks like in FY2018 than right now.

 

[WalksforMiles]

So, that means they'll be cutting hours across the board?

 

[Circle9]

So, that means they'll be cutting hours across the board?

Hours are likely to be cut no matter what.

 

[StockerAce]

So, that means they'll be cutting hours across the board?

They started in April at my store. They said May would be "back to normal" but that hasn't been the case.

 

[balthrop]

They started in April at my store. They said May would be "back to normal" but that hasn't been the case.

the new normal is there in no new normal.

 

[qmosqueen]

Schools almost out. So that means back to college, hours should pick up

 

[Joel]

Target's hours have always sucked ass from January til June. It's from July to December when the hours are good.

 

[WalksforMiles]

the new normal is there in no new normal.

That's scary.

 

[WalksforMiles]

They started in April at my store. They said May would be "back to normal" but that hasn't been the case.

Honestly, with ETE going on, and my store going through so much change it hasn't felt normal for me either.

 

[Redzee]

Motley Fools very negative. All retail in trouble.

 

[mandie89]

They started in April at my store. They said May would be "back to normal" but that hasn't been the case.

Unless you're in a specialty department or a team lead, hours are sh*t.

 

[Flow Warrior]

They started in April at my store. They said May would be "back to normal" but that hasn't been the case.

Define Normal.

 

[Flow Warrior]

Also as a 401k and stock holder, I got a paper copy of the annual report. $69 billion for Fiscal 2016.

 

[BoxCutter]

Good news:
Target stock jumps as retailer blows past Wall Street expectations

 

[signingminion]

I dunno but your stores but we comped decently above goals first quarter.

 

[Yetive]

We too. Flexed up hours for all but 1 month.

 

[signingminion]

We too. Flexed up hours for all but 1 month.

We were unable to fill at least 80hrs of flex time for April.

 

[Yetive]

I asked about OT to fill, and it was a no.

 

[DoWork]

Fuck yo target boycott

 

[SrTLall]

I dunno but your stores but we comped decently above goals first quarter.

Beating goals isn't necessarily the same as increasing comps. Goals is the $ amount stores want to achieve to be profitable and comparative sales are what sales are this year vs last year. You can make your goals and still have negatve comp. I know earlier in the year, goals were adjusted because stores weren't even coming close to them. It's important to adjust goals because the amount of payroll stores receive is directly tied to how much in sales they are supposed to do.

 

[HRZone]

I know earlier in the year, goals were adjusted because stores weren't even coming close to them.

Exactly this. A big reason for the struggle last year was unrealistic fourth quarter expectations. In order to combat this the goal was to create more realistic sales goals.

 

[HRZone]

Schools almost out. So that means back to college, hours should pick up

You would think we have so many seasonal hires and returning LOAs people will have to scour the swap shift board for hours

 

[Rock Lobster]

Beating goals isn't necessarily the same as increasing comps. Goals is the $ amount stores want to achieve to be profitable and comparative sales are what sales are this year vs last year. You can make your goals and still have negatve comp. I know earlier in the year, goals were adjusted because stores weren't even coming close to them. It's important to adjust goals because the amount of payroll stores receive is directly tied to how much in sales they are supposed to do.

There are actually two numbers in the "goals" portion. Goal vs Forecast. Goal is the important one (as it is what the CEO tells the shareholders) but Forecast is what you will see and hear about for huddles and for payroll purposes. Forecasts can be adjusted.

The interesting thing here is the disconnect between current payroll forecasting and the old sales/flex system. We earn our current hours (supposedly) based on cartons/transactions/workload algorithms, although I don't believe it completely yet. But, that is how we are earning hours when the schedules are written, but stores still earn flex payroll based on sales compared to forecasts. Wouldn't you think that you should earn payroll based on actual workload measurements?

For example, they forecast you for 15,000 cartons for trailers on the week you are writing but you get to the week and find out you took 16,000 cartons instead... shouldn't you have "earned" more hours for taking the extra freight?

 

[signingminion]

Beating goals isn't necessarily the same as increasing comps. Goals is the $ amount stores want to achieve to be profitable and comparative sales are what sales are this year vs last year. You can make your goals and still have negatve comp. I know earlier in the year, goals were adjusted because stores weren't even coming close to them. It's important to adjust goals because the amount of payroll stores receive is directly tied to how much in sales they are supposed to do.

We beat both. Green.