Jefferies Vice President of Equity Research Corey Tarlowe joins Yahoo Finance Live anchors Diane King Hall and Brad Smith to discuss his three top takeaways from the results. Tarlowe says, there are “three key points to highlight.” “Number one is on comp, number two is on margin, and number three is on the outlook,” Tarlowe explains. Target’s same store sales or “comp” came in lower than analyst estimates, but “we did see some better momentum in consumables categories,” Tarlow said. Tarlowe notes that the “shift from wants to needs is in full effect at Target.” Target’s margins were “significantly better than what we saw last year and also what we expected,” mainly “driven by better inventory positioning.” The company’s outlook was also lowered, but Tarlowe says, “the good news here is, I think, a lot of this was expected.” Target is “expecting now a mid single-digit same-store sales decline for the remainder of this year,” which is “relatively consistent with what we saw in the second quarter, so it feels like that’s a relatively achievable bar,” Tarlowe explains.
#Target #youtube #yahoofinance
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