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The Compound and Friends

Target smokes its quarterly earnings, now what? (with Josh and Jeff Macke

The Compound and Friends

Josh Brown

Business News, News, Investing, Business

4.72.2K Ratings

🗓️ 22 May 2019

⏱️ 9 minutes

🧾️ Download transcript

Summary

Josh is joined by Jeff Macke to discuss the latest quarterly earnings reports from Target, Walmart, Nordstrom and more! Enable our Alexa skill here - "Alexa, play the Compound show!" https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ Talk to us about your portfolio or financial plan here: http://ritholtzwealth.com/ Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/   Subscribe to the mini podcast on iTunes or Spotify Enable our Alexa skill here - "Alexa, play the Compound show!" Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

All right, so I'm with Jeff Mackey.

0:01.6

Jeff, I happen to have noticed that one of your favorite stocks, Target,

0:06.6

had incredible earnings report this morning and had a lot of good things to say.

0:11.5

So I wanted to get you on the horn and just

0:13.9

have you kind of give us your take and then we'll talk about some of the other

0:16.9

retail reports but I first of all I assume you're happy.

0:20.3

I'm delighted actually and Target is less one of my favorite stocks than sort of one of my favorite ideas.

0:28.0

It's not working that well as a stock but chart looks like a freaking train wreck and no one wants to give it a multiple

0:33.1

it still at 12 times earnings but they're capturing share and they're making money

0:37.8

at the same time which is really unusual in discount retail and you know eventually that's got to pay off.

0:44.8

So so same store sales up 4.8% and then e-commerce up 40% plus.

0:52.4

That's a that's pretty bad ass.

0:54.0

They're coming off 28%.

0:56.0

It's a real business.

0:57.0

They're going to grow e-commerce by more than a billion.

1:00.0

Last time we talked, we spoke about Target just being an idea, the easiest place to shop.

1:05.5

And the Omni Channel kind of be in your app, the corner store, wherever you want to buy stuff,

1:10.2

that's where they're going to sell it.

1:11.4

And that's coming together for him and you

1:13.4

listen to the call I mean I think the target guys can't believe they're good fortune

1:17.4

there's like you know customers love ordering stuff online and then picking it up in

1:21.5

the stores,

...

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