MSN Money/Reuters: Target woes spark holiday season worries

[DeepModem Mom]

November 15, 2005 10:08 AM ET
MSN Money/Reuters: Target woes sparks holiday season worries


CHICAGO (Reuters) - Investors dumped retail stocks on Tuesday after a gloomy sales forecast from discounter Target Corp. cast doubts on prospects for the all-important holiday shopping season.

Target said on Monday afternoon that November sales would likely miss its forecast for 4 percent to 6 percent growth at stores open at least a year -- a key retail measure known as same-store sales. Its shares dropped 8.4 percent to $53.50 in early Tuesday New York Stock Exchange trading.

The forecast came on the same day that Wal-Mart Stores Inc. said it expected a good holiday season despite steep energy prices, and was already seeing strong demand in key categories including electronics, toys and apparel.

"Investors have been skeptical about the health of the U.S. consumer and will use this (Target forecast) to take profits," said Bill Dreher, a retail analyst with Deutsche Bank.

The Standard & Poor's retail index shed more than 2 percent, with heavyweights including Federated Department Stores Inc. and Kohl's Corp. losing ground....


http://news.moneycentral.msn.com/provider/providerarticle.asp?feed=OBR&Date=20051115&ID=5283503

[RawMaterials]

1. I guess target is to upscale nowadays

people can only afford walmart.

:puke:

[Bob3]

2. Their prescription debacle can't be helping either.

N/T

[I Have A Dream]

3. I won't be going there because of it. I used to spend lots...

of money there because they were my alternative to Wal-Mart until I found out that they gave a lot of money to Republicans. (Thanks, buyblue.org!)

Given the prescription debacle, I'm even less inclined to go there.

[llmart]

4. Fill me in on the prescription debacle.....

I hadn't heard about it.

[I Have A Dream]

6. Here's a link to another post

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=106&topic_id=24563&mesg_id=24563

[kick-ass-bob]

9. FWIW, this is the reply from Target I got about it:

In our ongoing effort to provide great service to our guests, Target consistently ensures that prescriptions for the emergency contraceptive Plan B are filled. As an Equal Opportunity Employer, Title VII of the Civil Rights Act of 1964 also requires us to accommodate our team members’ sincerely held religious beliefs.

In the rare event that a pharmacist’s beliefs conflict with filling a guest’s prescription for the emergency contraceptive Plan B, our policy requires our pharmacists to take responsibility for ensuring that the guest’s prescription is filled in a timely and respectful manner, either by another Target pharmacist or a different pharmacy.

The emergency contraceptive Plan B is the only medication for which this policy applies.
Under no circumstances can the pharmacist prevent the prescription from being filled, make discourteous or judgmental remarks, or discuss his or her religious beliefs with the guest.

Target abides by all state and local laws and, in the event that other laws conflict with our policy, we follow the law.

We're surprised and disappointed by Planned Parenthood’s negative campaign. We’ve been talking with Planned Parenthood to clarify our policy and reinforce our commitment to ensuring that our guests’ prescriptions for the emergency contraceptive Plan B are filled. Our policy is similar to that of many other retailers and follows the recommendations of the American Pharmacists Association. That’s why it’s unclear why Target is being singled out.

We’re committed to meeting the needs of our female guests and will continue to deliver upon that commitment.

Sincerely,



Jennifer Hanson

Target Executive Offices

[I Have A Dream]

10. I got the same one. n/t

[Kukesa]

12. Me too; I then canceled my Target VISA card, and sent a letter

and an email to their corporate offices explaining why I canceled that card.

(Interesting: when I phoned VISA using the number on the back of my card, the woman on the other end was trying to get me to keep the card and offering me all kinds of deals. All I had to do was mention Target's pharmacy policy, and she argued no more. Voila! My card was canceled.)

Probably won't do any harm to Target, but I sure feel better.

[yorkiemommie1]

15. i got that same one too

but i fired back at them... i told them their reply wasn't good enough and wrote them a long letter about how faulty their policy is. told them that i spend as little i can at target ( even though it's a 5 minute walk away from my house ) and that i choose to spend most of my money at stores whose philosophy i agree with.

i DO buy from them but spend more at COSTCO. as another poster said, buy blue.org is very helpful!

[sandnsea]

18. Guests??

When the hell did shoppers become guests? Guests implies a choice, like staying at a hotel. Shopping is not a choice, you do it or have no food, clothes and medicine. No more "the customer is always right". Now it's "guests", followed by if you don't like the policies, you can leave.

[prole_for_peace]

5. but where else am i supposed to go?

i WILL NOT shop at walmart and drugstores and grocery stores charge too much for stuff like shampoo and detergent and crap.

i still think target is the lesser of two evils.

[E-Z-B]

11. K-Mart is a better alternative

They're getting better now that they merged with Sears

[I Have A Dream]

13. I wouldn't judge you if you decided that you had to go to...

Target. We each must make decisions like this taking all things in our lives into considerations. I'm pro-choice in all areas of life -- not just in reference to reproduction. You absolutely have the right to make the choice to go to Target. I agree -- if it were between Wal-Mart & Target, I'd choose Target.

Personally, I'm lucky to have a K-Mart. They're not perfect either, but at least they're not Wal-Mart or Target.

[K8-EEE]

20. COSTCO!!!

COSTCO COSTCO COSTCO!

[Renew Deal]

7. I was wondering why I was seeing Christmas ads from Target yesterday

It seems way too early.

[Halliburton]

8. that's what happens when you give into the fundie demands

[Mountainman]

14. I don't get it. Investor push boards to hold down or wages

then worry about the health of the consumer! The should by stocks in upscale retail stores. I heard they did pretty well last year.

[yorkiemommie1]

17. but no Macy's for me

i hate them for blasting FOX NEWS and *'s S. Security video from their screens for months and month. And then telling me they were only trying to inform the public. Why, then, the instructions beneath the screens saying they must be tuned ONly to FOX or ESPN? BUT they were ALWAYS on FOX!!!

[I Have A Dream]

19. Oooo! I didn't know this. What's up with this? n/t

[twaddler01]

16. Target makes good business in Madison

Of course, we are a college town. My girlfriend works at a Target in Madison, WI and they plan on adding to "Greatland". However, this is the rich side of town and college kids prefer this place because our Wal-mart is pretty much non-existant here. Smaller towns this might be a problem for Target though.