Before the US stock market on May 18, US retail giants $Target (TGT.US)$ Financial results for the first quarter of fiscal year 2022 have been announced. According to the data, the company's total Q1 revenue was US$25.17 billion, a slight increase of 4% over the same period last year, with market expectations of US$24.47 billion; net profit of US$1,009 billion, a sharp drop of 51.9% year on year; earnings per share were US$2.17, far lower than the market's expected value of US$3.07, compared to US$4.2 in the same period last year.
Target's Q1 performance fell short of expectations, mainly due to high shipping costs, larger product price reductions, and poor sales of non-essential consumer goods, including televisions and bicycles. The company's inventory issues also affected profits.Profits in the first quarter will be cut in half, and profit margins will be hit even harder. This shows that retailers with strong US economies will not be immune to rising inflation.
Other retail giants $Amazon (AMZN.US)$ A drop of more than 3%, $Walmart (WMT.US)$ Representatives of offline retail entities released financial reports on the 17th. Net profit was 2.05 billion US dollars, down 24.8% from the previous year. The stock price plummeted by more than 10%, and fell nearly 5% on the 18th; in addition to Target, $Costco (COST.US)$ It's also down 10%. Is there really a problem with the US economy
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