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Target (TGT) Gears Up to Offer Great Deals, Values This Holiday

Retailers have begun prepping for the holiday season with as much zeal as shoppers are looking forward to eye-popping deals. This season, which accounts for a sizable chunk of yearly revenues, is a make or break for retailers. To make the most of the festive season and win over early-bird shoppers, Target Corporation TGT is back with its “Deal Days” and Price Match Guarantee. Additionally, the retailer plans to appoint up to 100,000 seasonal workers to better serve its guests and provide a seamless shopping experience.

What Awaits Target’s Deal Days?

Target will kick off holiday deals earlier this year to woo shoppers. Through its “Target Deal Days” shopping event, it will offer guests the best deals on must-have items and everyday essentials. Interested customers can access amazing deals from Oct 6 to Oct 8.

Bargain hunters will continue to find everyday low prices throughout the festive season. Buyers can avail of Target's Drive Up and Order Pickup services and same-day delivery with Shipt to get their products. Markedly, no membership fee is required for the same. As always, customers will get free shipping on orders of $35 or more or when using Target RedCard.

 

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Zacks Investment Research


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To attract deal seekers, Target is offering “Holiday Price Match Guarantee”, starting Oct 6. The program, which will run through Dec 24, is designed to give shoppers a sense of confidence that they are getting the best deals, regardless of when they shop. As part of this, shoppers can request a price adjustment on all items purchased in store or online within the said period if they find that the retailer has dropped the price later in the season.

Target’s multi-category assortment of owned and exclusive brands and popular national brands makes it a one-stop shopping destination. With convenient shopping options and shop-in-shops with popular brands like Disney, Levi's, Ulta Beauty and Apple, Target is providing customers with more reasons to shop. While the retail behemoth is leaving no stone unturned to make the most of the three-day event, customers should be ready to catch hold of incredible offers.

Shares of this Zacks Rank #3 (Hold) stock have risen 2% in the past three months against the industry’s decline of 1.5%.

Wrapping Up

While inflation may play a spoilsport, we still believe that stimulus savings from last year, steady wage gains and a lower unemployment rate should help keep demand alive. Per Mastercard SpendingPulse, U.S. retail sales, excluding automotive, are anticipated to increase 7.1% from a year earlier during the traditional holiday period that runs from Nov 1 to Dec 24.

3 Stocks Looking Red Hot

Here we have highlighted three better-ranked stocks, namely BJ's Wholesale Club BJ, Kroger KR and Performance Food Group PFGC.

BJ's Wholesale Club, which operates membership warehouse clubs, currently sports a Zacks Rank #1 (Strong Buy). BJ has an expected EPS growth rate of 9.3% for three to five years. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for BJ's Wholesale Club’s current financial-year sales and EPS suggests growth of 15.1% and 10.8%, respectively, from the corresponding year-ago period’s levels. BJ has a trailing four-quarter earnings surprise of 16.5%, on average.

Kroger, the renowned grocery retailer, carries a Zacks Rank #2 (Buy) at present. The company has an expected EPS growth rate of 11.7% for three to five years.

The Zacks Consensus Estimate for Kroger’s current financial-year sales and EPS suggests growth of 7.8% and 9.8%, respectively, from the year-ago reported number. KR has a trailing four-quarter earnings surprise of 15.7%, on average.

Performance Food Group, which markets and distributes food and food-related products in the United States, carries a Zacks Rank of 2 at present.

The Zacks Consensus Estimate for Performance Food Group’s current financial-year sales and EPS suggests growth of 12.9% and 29.6%, respectively, from the corresponding year-ago period’s actuals. PFGC has a trailing four-quarter earnings surprise of 7.3%, on average.


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