Target Still On Target

Target Unscathed By Housing Market Woes
Posted at 03/21/08 15:03 PM
Ticker: TGT

In a recent survey of 30 Target stores across the US, 73% reported that business is currently very strong or above average, while only 10% reported sales below average. 33% reported that the weak housing market and economic worries are hurting their business, although an additional 17% expect economic woes to impact business in the future. 57% of respondents stated that their location has excess inventory that would need to be discounted, but many of the items mentioned were seasonal, such as winter clothing and Easter merchandise. The top-selling brands of women’s clothing cited were Mossimo (23%), Isaac Mizrahi (20%) and Jovovich-Hawk (17%).