8/11/2023 0 Comments Pauls market homedaleHe added Target will struggle amid the difficult economic backdrop with around 55% of sales in the discretionary area. On top of this, he said it's likely Walmart, a Citi top pick, will continue to gain market share from Target and other retailers. Together, Lejuez said the two weeks of data makes him cautious about the near term. He noted the firm's traffic tracker showed a 400 basis-point deceleration in the fourth quarter of May to close a difficult month, followed by another tough week to start June. That would mark a turn after the retailer saw significant sales gains between 20, as the Covid-19 pandemic prompted a shift in spending from services to goods. "Despite the recent stock pressure, we cannot recommend investors buy the stock," he said in a note Friday, adding "risk is more to the downside near term." Lejuez said 2023 is showing warning signs sales have peaked and will likely fall more in what he called a "giveback" situation. His previous target, by comparison, reflected the potential for a 34.8% rally. Lejuez's new target implies the stock will fall nearly 1% in the next year from where shares finished Thursday. Analyst Paul Lejuez downgraded the retail giant to neutral from buy and cut his price target to $130 from $177. Investors should stay away from Target amid concerns sales may have peaked, Citi warned. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower It is unclear how the transaction, if approved, would impact Paul’s Market employees.Best Debt Consolidation Loans for Bad Credit The parties anticipate and hope to close the deal for these stores sometime in April. The transaction is subject to customary closing conditions. “We sincerely thank our communities for 60 years of shopping with us, and we look forward to watching how these stores evolve to serve their customers for the future.” “From the day that our family opened the first Paul’s Market store in 1955, we have been a proud Treasure Valley grocer, and we know that the folks at Albertsons share our values and commitment to providing the best to our communities,” stated Stan and Steve Zatica, co-owners of Paul’s Market, in a news release. “We are excited to have the chance to add experienced retail employees to our ranks, as well as the opportunity to build on that foundation and earn the trust of Paul’s Market loyal customer base.”Īlbertsons Intermountain Division operates 84 stores in Idaho, Montana, Wyoming, Utah, Colorado, North Dakota and Nevada. “Over its many years operating retail food stores in the region, Paul’s Market has developed an outstanding reputation for quality, selection and service,” said Brad Street, Albertsons Intermountain Division President. As a part of the transaction, Albertsons will acquire the properties. Separately, Paul’s Market also announced plans Monday to close its three stores in Caldwell, Mountain Home and Nampa. In a news release, Albertsons will be rebranding the Paul’s Market stores at 20 East Wyoming in Homedale, 700 East Avalon in Kuna, 10565 Lake Hazel Road in Boise, and 132 East Lake in McCall Albertsons Companies announced Monday that it has entered into an agreement to purchase and rebrand four Idaho-based Paul’s Market stores.
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