On August 23, 2009
Target Challenged on Consumer Perception
Sometimes you can go through a whole conference call and never hear an analyst pose a really challenging question to executives, but in Target’s second quarter earnings conference call last week someone did, and the answer, coupled with a later inquiry and response, provides some insight into the retailer’s immediate prospects. Target has been making a lot lately of its move to offer more lower prices and to improve its price perception among consumers even as it adds more food to bring customers into its stores more often. Neil Currie, an analyst for UBS, challenged Target executives on the point. In the conference call, as transcribed by SeekingAlpha, he asked: Your sales performance particularly when comparing to some other value…
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