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Target Records Sluggish 2019 Holiday Sales

Target Records Sluggish 2019 Holiday Sales

塔吉特2019年假日銷售疲軟
finviz ·  2020/01/17 17:00

Target Corp. (NYSE:TGT) recently reported disappointing sales for the 2019 holiday period.

塔吉特。(紐約證券交易所股票代碼:TGT)最近報告稱,2019年假日期間的銷售額令人失望。

Bird's-eye view

鳥瞰

In the holiday period, the big box retailer witnessed softer-than-expected performance in key holiday areas such as toys, electronics and portions of its home assortments, which comprehensively offset gains in apparel and beauty products.

在假期期間,大的這家零售商在玩具、電子產品和部分家居用品等關鍵假日領域的表現弱於預期,這全面抵消了服裝和美容產品的增長。

Warning! GuruFocus has detected 3 Warning Sign with TGT. Click here to check it out.

警告!GuruFocus檢測到3個帶有TGT的警告信號。點擊此處查看。

TGT 30-Year Financial Data

TGT 30年財務數據

The intrinsic value of TGT

TGT的內在價值

Peter Lynch Chart of TGT

彼得·林奇TGT圖表

The company's comparable store sales rose 1.4% in November and December, which was not only below the company's forecast but also failed to live up to the 5.7% growth it experienced a year ago.

該公司11月和12月的可比門店銷售額增長1.4%,不僅低於該公司的預期,也未能達到一年前5.7%的增長。

In addition, the discount retailer saw weak digital sales during the holiday period. Target's digital sales increased only 19% as compared to the growth of 31% in the third quarter and 29% in the 2018 holiday season.

此外,這家折扣零售商在假期期間的數位銷售疲軟。塔吉特的數位銷售額僅增長了19%,而第三季度增長了31%,2018年假日季增長了29%。

Target's CEO Brian Cornell said that the company "faced challenges throughout November and December in key seasonal merchandise categories and our holiday sales did not meet our expectations. While we knew this season was going be challenging, it was even more challenging than we expected."

塔吉特公司首席執行官布萊恩·康奈爾表示,該公司在整個11月和12月都面臨著關鍵季節性商品類別的挑戰,而我們的假日銷售沒有見面我們的期望。雖然我們知道這一季將是具有挑戰性的,但它甚至比我們預期的更具挑戰性。

Shifting gears, Target is not the only physical store retailer to have witnessed a slump in sales for the holiday period. JC Penney (NYSE:JCP), Kohl's (NYSE:KSS), Bed Bath & Beyond (NASDAQ:BBBY) and other department store chains also experienced poor holiday sales.

換言之,塔吉特並不是唯一家在假期期間銷售額大幅下滑的實體店零售商。JC Penney(紐約證券交易所代碼:JCP),Kohl‘s(紐約證券交易所代碼:KSS),床浴及更上一層樓(納斯達克:BBBY)和其他百貨商店連鎖店也經歷了糟糕的假日銷售。

For the full 2019 calendar year, Target saw robust sales thanks increased consumer spending. Cornell remains optimistic, claiming that the company is slated to have a fabulous year ahead. Target has "built a financial model that -- despite the softer sales -- still delivered on the bottom line because of a strong gross margin mix, the unique role our stores played in digital fulfillment and our incredibly clean inventory position closing out the holidays."

在2019年全年,塔吉特的銷售表現強勁,這要歸功於消費者支出的增加。康奈爾仍然保持樂觀,聲稱該公司將迎來令人難以置信的一年。塔吉特“建立了一種財務模式,儘管銷售疲軟,但由於強勁的毛利率組合,我們的門店在數字化實現方面發揮了獨特的作用,以及我們令人難以置信的乾淨庫存狀況在假期結束後仍能實現盈利。”

In view of making shopping more convenient, Target has been opening smaller-format stores in urban markets and modernizing larger locations. The company has also introduced curbside pickup for online orders and added more private-label products. In fact, the company has invested in a new grocery line called Good & Gather, which is its biggest private label venture so far. Thanks to all these efforts, Target's shares rose to record highs in the recent months.

為了讓購物更方便,塔吉特一直在城市市場開設規模較小的商店,並對較大的地點進行現代化改造。該公司還推出了用於在線訂單的路邊提貨,並增加了更多自有品牌產品。事實上,該公司已經投資了一個名為Good&Gather的新食品雜貨系列,這是該公司迄今最大的自有品牌合資企業。由於所有這些努力,塔吉特的股價在最近幾個月升至創紀錄高位。

Performance of key categories

關鍵類別的表現

During the holiday period, sales dipped 6% for electronics and 1% for home products. On the other hand, toy sales remained relatively flat as compared to the year-ago period.

在春節期間,電子產品的銷售額下降了6%,家居產品的銷售額下降了1%。另一方面,與去年同期相比,玩具銷售保持相對持平。

Despite the fact that the toys segment disappointed, the company managed to grow its market share in this category throughout the holidays.

儘管玩具市場令人失望,但該公司在整個假日期間設法增加了這一類別的市場份額。

Looking ahead

展望未來

Despite the sluggish performance in the holiday period, analysts projects fourth-quarter comps to grow 3.8%, which is in line with the company's expectations of 3% to 4% growth. Thus, the company is on track to register 11 successive quarters of same-store sales growth. Cornell said, "Our fourth quarter performance will benefit from productivity improvements in our stores and supply chain, as well as meaningfully lower clearance inventory compared with a year ago."

儘管假期期間業績低迷,但分析師預計第四季度營收將增長3.8%,與該公司3%至4%的預期一致。因此,該公司有望實現連續11個季度的同店銷售額增長。康奈爾說:“我們第四季度的業績將受益於我們門店和供應鏈的生產率提高,以及與一年前相比有意義的清倉庫存下降。”

Disclosure: I do not hold any positions in the stocks mentioned.

披露:不要持有上述股票的任何頭寸。

Read more here:

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This article first appeared onGuruFocus.

這篇文章最早出現在GuruFocus上。

Warning! GuruFocus has detected 3 Warning Sign with TGT. Click here to check it out.

警告!GuruFocus檢測到3個帶有TGT的警告信號。點擊此處查看。

TGT 30-Year Financial Data

TGT 30年財務數據

The intrinsic value of TGT

TGT的內在價值

Peter Lynch Chart of TGT

彼得·林奇TGT圖表

譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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