Target's 4th quarter profits fall 41% !

[sufrommich]

Wow. I was in a Metro Detroit Target on Friday at 3:30 in the afternoon,I'll bet there weren't more than 10 shoppers in the whole store, it was eerie.

http://finance.yahoo.com/news/Target-4Q-profit-falls-41-apf-14450192.html

[seemslikeadream]

1. The Target store near me is being tore down

and bigger one is going to be built, and it's only maybe 10 years old at the most?

[seemslikeadream]

2. dupe

[LiberalEsto]

3. Nobody's got money for shopping

People are only buying the necessities, and searching for the best deals on them.

If you want to know where people are shopping, go to a Big Lots or dollar store. Ours are packed, and this is in Montgomery County, Maryland, one of the wealthiest counties in the country.

[sufrommich]

5. Well, that's even scarier. Dollar stores have been a staple in

the Detroit area for some time.We're also seeing a rise in discount grocery stores which have off brands,limited choices in product and "bring your own bags".

[bdamomma]

6. no jobs no money no spending.

can't they realize that?

[spanone]

4. i was in target just after christmas, it was like a morgue

[serrano2008]

7. In related news: Paula Abdul sells out of Jewelry offering on HSN on Sunday

Seriously, HSN sold millions of $$$ of Paula Abdul's jewelry and sold out all they had. They must be recession proof.

[renate]

8. I've noticed that stores are busier lately

I was in Target the other day and the parking lot looked a lot more like pre-official-recession days than it had for a couple of months. Costco had seemed only about half as busy as normal a month ago, but last week the lines were just as long as they used to be. (People may well be buying less stuff, but at least they're shopping again.)

And I drove by our huge mall on Sunday and the parking lot was full out to the edge, even by the Nordstrom store (so people weren't only shopping at the cheaper stores)--it looked like Christmas levels of business. My husband had taken our daughter and a friend there the same day, and he said it was packed. Again, people might be buying less, but to my surprise they do seem to be shopping more than they were just a month or two ago.

Whether it's because they feel more confident that the grownups are working on fixing the economy, or they just can't break their old shopping habits for long.... :shrug:

[myrna minx]

12. I suspect that people are starting to receive their tax returns and are stocking up

on necessities. I know that's what I'm going to do, once my refund arrives. I plan on buying all the shampoo, TP, cat litter, canned goods etc. I can carry, while I have money. No indulgent "spree spending" with the refund this year, it's all about stockpiling for when the other shoe drops.

[renate]

14. updated to add... I just got this month's Vanity Fair

Last month's was scarily skinny... I say "scarily" because it was such a clear indication of how advertising has fallen off, and what that suggested for the economy. (And for the future of Vanity Fair, a magazine I couldn't do without.) There was just about nothing in terms of advertising last month. :scared:

But this month's issue is huge again--not the biggest ever, by a long shot, but much closer to normal.

I know it's just a single indicator, but it suggests that somebody somewhere, or many somebodies, still think that advertising is worthwhile--and consumer spending is the engine that really drives the economy.


Edited to add: Oops, the point I meant to make was that maybe the uptick in Vanity Fair advertising (which isn't for bare-necessity stuff like shampoo and socks) might be a good sign that market research is showing that people are starting to cautiously spend on non-necessities again.

[Vickers]

9. The only store I've been in recently (last 3 months) that seemed to be

doing well was the Ikea in Ft. Lauderdale. Tons of people, carts full, parking lot was packed.

Everywhere else...nuthin'.

[City of Mills]

10. I've been meaning to go shopping

I'll go soon though, just have to pay of a few thousand on my credit cards, who've been bumping interest rates and charging fees after they change the due dates. Maybe a little after that at some point, but first I also have to sock away every penny I can to rebuild my savings account. Of course, it may also be prudent to save for a down payment on a property while prices and rates are still low, that way I won't have to throw money away on rent... I should be able to go shopping, soon. Sometime in 2011 at the very latest.

[Renew Deal]

11. I was in a Target last week and they looked busy

But that's not the best indicator. The indicator is what people are buying.

[On the Road]

13. If They're Fallen 41%,

it means they still have positive earnings. That's impressive.