Target had a great quarter. Digital grew 34% and the CFO has spent the last 15 minutes on the conference call waxing rhapsodic on the improvement in in-stock position. Customer facing. Beautiful.
I love it so very much when management hits exactly the right tone.
Here’s my initial breakdown of the quarter. Check back for updates as the call warrants.
Jeff, your insight in retail is fantastic. Great call out yesterday about the whole cap-ex decrease. I was wondering if you felt comfortable enough to give your opinion on Cornell, Target’s CEO?
He seems like he “gets it,” especially with the stories about him going into actual stores to observe customer behavior and mobilize action plans thereafter. I understand that this is a company that you have close connections to, so if you believe it wouldn’t be appropriate, I totally understand. Thanks in advance.
I think he’s the best Cornell since Ezra. Doing a great job. Can’t say enough about how good the tone of that call was. Just spot on.
Thanks for the response Jeff.
Target Canada was off target
They spent 30yrs picking the best real estate in big box retail in the US then bought 200 dump stores at once in Canada.
Cornell nuked it. That was a good tell that he isn’t a guy who dicks around. I think I wrote about it someplace at the time.
It was the best call I’ve listened to yet.
Love reading the last few weeks commentary on the retail market.
Jeff – they are private right now, but Levi Strauss seems to be positioning themselves back towards an IPO at some point. A lot of interesting moves being reported on in the media lately. Is this a retailer that’s on your radar at all?
Nope on Levis. Denim. They have lots and lot of denim.
Haha they do indeed have lots of denim
so on a pullback is the stock a buy . seems like the stock barely off the highs is reflecting a great call