When I shop at Target
I've suggested changes to management several times in my career, but most of those pointed comments have fallen on deaf ears. Of course, I had nothing at all to do with Target's recent sale of both Mervyn's and Marshall Field's. The company agreed to sell Mervyn's to an investment consortium for $1.7 billion in cash, and it recently completed the sale of Marshall Field's to May Department Stores
The business plan and retailing strategy is so rock solid that I see Target as the Nordstrom
The company is coming off a bit of a slow time; same-store sales in the second quarter grew 3.9%, but Target has high hopes for back-to-school demand. Management said that it is "confident that we will continue to enjoy profitable market share growth throughout the remainder of 2004 and well into the future." Target should be able to back up this statement, given its renewed focus and a commitment to excellence at the retail level.
The fact remains that Target is head and shoulders above its main competitors: Wal-Mart and real estate baronKmart
Take aim and shoot your thoughts out at the Target discussion board.
Phil Wohl spent more than 12 years on Wall Street and now concentrates his writing on more fictional characters. He has no stake in any firm mentioned above.
More from The Motley Fool
Healthcare: Is Celgene Going to Buy Juno Therapeutics?
A big biotech merger could be in the works.
American Express Earnings Beat Estimates, but It's Not All Good News
Earnings and revenue both surpassed expectations, but the company's tax reform charge and plans to recapitalize are disappointing investors.
What Happened in the Stock Market Today
On a day the indexes pulled back from recent record highs, Wyndham announced it is buying La Quinta, and Alcoa reported disappointing profits.