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News Breaks
February 26, 2014
10:46 EDTTGTTarget says sales have started to recover from trends observed following breach
Says will continue to see continued improvement across all Canadian stores in FY14. Says "truly sorry" for impact breach has had on guests and says it is committed to making things right. Says committed to an end to end review in cooperation with third-party experts to understand how the breach occurred. Says conducting end to end forensic investigation to make informed decisions on potential security enhancements, accelerating the adoption of advanced chip enabled technology and investing more than $100M to equip stores stores and to issue Target branded smart chip credit and debit card. Says investing $5M in a new coalition with the BBB, National Cyber Security Alliance, National Cyber Forensics and Training Alliance. The company said sales have started to recover from the trends observed following breach related announcements in December and January. The company expects to absorb near term financial impacts. Plans to open Target Express in home market in July. Expects the benefit of expense optimization efforts to reach $1B in annualized savings by FY15. Comments made during the company's Q4 earnings conference call.
News For TGT From The Last 14 Days
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October 2, 2015
11:32 EDTTGTAnalyst sees Amazon becoming #2 player in $425B consumables market
Amazon (AMZN) will advance to the number two position in the $425B U.S. consumables market, excluding food and beverages, by 2018, research firm Cowen predicted in a note to investors today. WHAT'S NEW: Amazon's "multi platform approach around Prime" is enabling it to gain share in the U.S. market for goods including personal care, household, pet and baby products, Cowen analyst John Blackledge stated. Specifically, the e-commerce giant is effectively using its Amazon Prime, Amazon Prime Now, Amazon Pantry and Amazon Fresh offerings to sell consumables and it has significantly increased the number of fulfillment centers it operates, lowering its delivery times, according to Blackledge. The company's delivery times are now "well ahead of (the) competition," the analyst reported. The e-commerce giant's strategy in the consumables market appears to be working, as Cowen's proprietary data indicates that the company is gaining share in the category, Blackledge wrote. Additionally, Amazon is beginning to attract more customers from Wal-Mart (WMT) and Target (TGT), he believes. PRICE ACTION: In late morning trading, Amazon slipped 0.4% to $518.70.
10:03 EDTTGTTarget to begin selling Apple Watch at stores this week
Target (TGT) announced that the Apple (AAPL) Watch is coming to Target stores this week and all stores by October 25. At, Apple Watch will be available beginning Oct. 18. Reference Link
08:21 EDTTGTAmazon to be number two player in U.S. consumables by 2018, says Cowen
John Blackledge and the research team at Cowen project that (AMZN) will grow to be the number two player in the $425B market for U.S. consumables - which they define as personal care, household, pet and baby products - by 2018. The firm expects Amazon to use its multi-platform approach, centered around Prime, to help the e-commerce giant gain share in consumables at the expense of Wal-Mart (WMT), Target (TGT), Walgreens (WBA) and CVS Health (CVS). Cowen has Outperform ratings on Amazon and Target and a Market Perform rating on shares of Wal-Mart.
September 30, 2015
12:00 EDTTGTTarget management to meet with Jefferies
Meeting to be held in New York on October 5 hosted by Jefferies.
11:13 EDTTGTTarget announces expansion of price matching policy
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September 29, 2015
07:11 EDTTGTWal-Mart expands pick-up service to new markets, Fortune says
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September 28, 2015
19:57 EDTTGTRetailers urge courts to reject Visa, MasterCard settlement, Reuters says
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06:42 EDTTGTPerfume makers look to Wal-Mart, Target, WSJ reports
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