Does Target Have a Turnaround Strategy?

REPLAY VIDEO
Your next video will start in
Pause

Recommended Videos

  • Info

  • Comments

  • VIDEO TEXT

Aug. 20 (Bloomberg) -- Target, still struggling to rebound from last year’s hacker attack, cut its forecast for the year as slumping sales and a money-losing push into Canada take a toll on profit. Bloomberg’s Shelby Holliday reports on “In The Loop.” (Source: Bloomberg)

This is an incomplete picture.

Only one third of the law enforcement agency provide that information to the fbi.

We really do not know for sure what is happening with these numbers.

Thank you very much for the update.

We just got target's second quarter earnings results.

Short of estimates.

It is cutting its full-year earnings view and is forecasting next quarter will not be as strong as estimates.

It has lost more than $4 billion since its first international expansion into canada last year.

Shelby holliday is here with the details on this.

Shelby, this is a company that struggled a lot here at a lot of retailers have, but target especially as a result of the security breach we saw around christmas time.

Talk to me about canada.

What is the problem there and can it turn around?

Life that is the big question.

From the beginning, it has been a mess for target.

From the time target rolled out up north, there were empty shelves.

It is all over social media.

High prices.

Target customers were familiar with american prices and then saw the israeli prices.

Now target is promising or said it could turn things around.

It recently announced improving your problem is admitting you have one.

If they can come in and prove, i can buy this on amazon or walmart for this price, target said it would match the price.

You need economic fundamentals to support you.

You need people out there shopping for your product.

We have seen other retailers in canada struggling as well.

What makes target think it could be different here?

It has been very difficult, as we have seen with retailers.

Norstrom is really struggling.

Target, some people were thinking target might pull the plug, but it looks like they are really trying to pull things around.

If you read about walmart's entry into canada, while ago, they came in as the american invader and they have turned things around and boosted their reputation.

They are doing much better.

Target might be looking to walmart to see if they can do that.

The problem is walmart's canadian businesses largely based on groceries and target is stocked goods.

No one knows if canadians will go to target to buy those items.

Thank you.

A lot of questions right now surrounding employee wages.

Janet yellen is on the way to jackson hole where she and monetary policy leaders will meet this week.

Both on the monetary and fiscal policy side that these government officials are confronting is the issue of income inequality.

Can an increased minimum wage

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change