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The largest shopping mall in the city of San Francisco is the aptly-named San Francisco Centre (the “r” preceding the “e” indicating it is elegant and marvelous). It opened in 1988 and expanded in 2006, and it was connected directly to the BART station (which is our local subway system). For years, the place was jam-packed and one of the most successful malls to ever exist.
There was a time when Target (TGT) held its own quite nicely against Walmart (WMT). Over the past year or so, however, as this WMT/TGT ratio chart plainly shows, Walmart has curb-stomped its slightly classier competitor.
On this seasick green day, the only red on my screen is my retail shorts. You’ve seen recently how Target (TGT) and Walmart (WMT) got zapped. They aren’t alone. Check these out, including my live positions COST, DG, and DLTR:
After I wrote the other day about Walmart’s weak chart, it shot higher, up about 14% for the year. Dummy me hadn’t even checked their earnings date when I wrote the piece.
After Walmart’s earnings report this morning, Investopedia wrote that “all 12 of the analysts tracked by Visible Alpha with recent assessments recommend buying shares.” If they liked shares at $102, I imagine they like them even better now around 98.
Walmart’s earnings didn’t meet analyst earnings projections of $0.73, and instead were $0.68. Gee, a $0.05 difference and the stock price slides. (Recall at their prior earnings report in February that WMT said to expect lower earnings.)
(more…)Long-time readers of Slope should have zero surprise that Target (TGT) is collapsing, which it is continuing to do this morning, now having lost about 60% (!!!!!!!!) of its peak value. I wrote about this company two years ago as well as nine months ago, and my criticisms were, umm, on target.
