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47
Fashion Jobs
ESTEE LAUDER
bb/cl/el/jm/lm/Mac/tf - Freelance Consultant - Auckland - on-Call/Freelance
Permanent · Auckland
LULULEMON
Educator | Wellington New Zealand
Permanent · Wellington
LULULEMON
Store Manager | Takapuna
Permanent · Auckland
LULULEMON
Educator | Wellington
Permanent · Wellington
JD SPORTS
Apparel Department Manager - Sylvia Park
Permanent · Auckland
JD SPORTS
Part Time Sales Assistant - New Store Opening - Manukau
Permanent · Auckland
JD SPORTS
Full Time Sales Assistant - New Store Opening - Manukau
Permanent · Auckland
JD SPORTS
Casual Sales Assistant - New Store Opening - Manukau
Permanent · Auckland
FOOT LOCKER
Part-Time Sales Associate
Permanent · Christchurch
LULULEMON
Store Manager | Mount Maunganui nz
Permanent · Tauranga
JD SPORTS
Assistant Store Manager - New Store Opening - Manukau
Permanent · Auckland
LULULEMON
Key Leader | Queenstown
Permanent · Queenstown
LULULEMON
Store Manager | Commercial Bay Auckland | New Zealand | 12 Month Contract
Fixed-term · Auckland
LULULEMON
Assistant Store Manager | The Mount
Permanent · Mount Maunganui
JD SPORTS
Instore Visual Merchandiser - Sylvia Park
Permanent · Auckland
FOOT LOCKER, FOOT LOCKER
Part-Time Sales Associate
Permanent · Auckland
JD SPORTS
Floor Manager - New Store Opening - Manukau
Permanent · Manakau
JD SPORTS
Footwear Supervisor - New Store Opening - Manukau
Permanent · Auckland
JD SPORTS
Apparel Department Manager - New Store Opening - Manukau
Permanent · Manakau
JD SPORTS
Back of House Supervisor - New Store Opening - Manukau
Permanent · Auckland
JD SPORTS
Apparel Supervisor - New Store Opening - Manukau
Permanent · Auckland
JD SPORTS
Pos Supervisor - New Store Opening - Manukau
Permanent · Auckland
By
Reuters API
Published
Jun 7, 2022
Reading time
2 minutes
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Target warns of weaker margins again as inflation curbs consumer spending

By
Reuters API
Published
Jun 7, 2022

Target Corp on Tuesday cut its quarterly margin forecast issued just weeks earlier, and said it would have to offer deeper discounts and stock more essential items, as inflation dents consumer spending.




The surprise forecast revision is a big blow for the company, which in May joined larger rival Walmart in reporting a steep drop in quarterly profit, sending shockwaves through the retail industry.

With soaring inflation and higher gas prices, consumers are changing their shopping habits, catching many retailers off guard and forcing them to offer more discounts.

Target said it would focus on clearing excess inventory in the second quarter, cancel orders and speed up parts of the supply chain that could be affected by "external volatility".

The company is also prioritizing categories such as food and beverage, and household essentials over discretionary items such as home goods.

Target's strategy to keep a big portion of its products affordable is also proving to be costly for the retailer, with the company now saying it would raise prices to offset the unusually high transportation and fuel costs.

"While these decisions will result in additional costs in the second quarter ... (it will result) in improved profitability in the second half of the year and beyond," Target Chief Executive Officer Brian Cornell said.

The company now expects second-quarter operating margin to be about 2%, compared with its prior estimate of 5.3%. It also expects margins to be around 6% for the second half of the year, while maintaining its sales goals for the year.

Target's stock has lost about a third of its value so far this year.

 

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