After Target (TGT) lowered its margin guidance for the second quarter, here's where the CNBC Investing Club would look in the retail sector.
Target warned Monday profits may take a hit in the near term as the big-box chain looks to shed excess inventory. It's a step other retailers will likely need to follow, analysts say, thus dragging down their stock prices. But not every retailer will take same hit. Some even stand to benefit from the inventory glut. One projected winner: TJX Companies .
The clearance rack at T.J. Maxx clothing store in Annapolis, Maryland, on May 16, 2022, as Americans brace for summer sticker shock as inflation continues to grow.
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Target slashes prices, cuts vendor orders amid spending shift by AmericansRetailers are cutting some prices to clear out amassed inventory. Here's what you should know.
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Target warns profits will take short-term hit as it cuts back on excess inventoryTarget, which is facing excess inventory in several categories, said it's planning serval actions during the second quarter to 'right-size its inventory for the balance of the year.'
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