Who’s going shopping?

Who’s going shopping?

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Earnings from Target, Walmart, Home Depot, and the Container Store are showing some mixed results.

The Target Corporation’s (TGT) 2022 first-quarter revenue results illustrate a 4% year-on-year increase, totaling $25.2b. The eighth-largest US retailer claims unexpected high costs to explain the low profits.

Meanwhile, the “Save Money. Live Better” company Walmart (WMT) missed analyst expectations as its first-quarter results saw profits drop by 24.8% YoY.

Interestingly, home improvement company Home Depot (HD) is raising forecasts after its first-quarter sales saw a revenue increase of approximately 4% to $38.91b. Despite the sales highlighting slowing paces of growth, the company holds that inflation hasn’t hit the home improvement sector as hard as the other retailer sectors.

Back to less optimistic news, The Container Store Group’s (TCS) latest quarterly profit has declined. Net income dropped from $35.1m to $23.2m YoY. Earnings per share dropped to $0.46 from $0.69, and revenue fell to $305.5m from $314.7m.

Why it matters

The culprit of the losses in the sector — inflation, inflation, inflation. Oh ya, and supply chain issues!


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