Latest news with #RickGomez
Miami Herald
03-07-2025
- Business
- Miami Herald
Black Friday-like sales are now in summer too, as Target, Best Buy compete with Amazon Prime Days
America's big retailers, including Best Buy and Target, continue to lean into big mid-summer events to boost sales as the back-to-school season begins. Amazon Prime Days is the impetus for the dayslong sales, but each retailer has done things to stand out. "We try to do everything that is the best of who Best Buy is, so it's the mixture of every category, it's the mixture of Doorbusters, the 'Deal of the Day' and then obviously bringing additional value on top of that to our members," said Jason Bonfig, senior vice president of customer offerings and fulfillment for Best Buy. The "Black Friday in July" promotions come as the Richfield-based electronics retailer is trying to regain ground. The sales also come at a time when consumers are limiting how much they spend on nonessentials. According to a PwC survey of nearly 1,200 parents, 37% of shoppers plan to pull back on back-to-school spending and 44% are lessening spending on technology. More than one-third plan to only buy items on sale. Best Buy's sale runs July 7-13, overlapping with Amazon's extended Prime Day offering from July 8 to 11. Minneapolis-based Target's summer promotion, Circle Week, runs from July 6 to 12. Prime Day previously ran for two days, giving Best Buy a clear advantage when it came to "top tech" deals. This year, Best Buy has changed its sale a bit to sway consumers. The retailer will also offer Doorbusters - a sales initiative offered on Black Friday - for the first time during this year's event. Like Prime Days and Circle Week, new deals will be available every day. My Best Buy Plus and My Best Buy Total members will also get exclusive access to rewards, such as a $20 reward for every $200 spent on tablets, e-readers and accessories. Target made its Circle Week announcement last Monday as part of its back-to-school promotion events. College students and teachers will both receive a one-time 20% off storewide discount with Target Circle. The company is also holding the pricing offered last back-to-school season. "This is such an important time for everyone preparing to head back to class - or heading off to school for the first time," said Rick Gomez, chief commercial officer at Target. "The Target team will be there for families by holding last year's prices on key school supplies and standing tall for unrivaled style, quality and exceptional value." Best Buy's sales event comes a little over a month after its midnight opening parties, celebrating the Nintendo Switch 2 launch. The launch marked a major sales moment for Best Buy, but the company also saw it as a starting point for continued engagement - both for Nintendo-related sales and renewed interest in the retailer's offerings. It also sets the stage for the launch of Best Buy's third-party digital marketplace. CEO Corie Barry said the retailer is "on pace for a midyear launch" in a first quarter earnings call. The electronics retailer previously opened its website to select outside sellers from 2011 to 2016. About 200 sellers were participating before the initiative ended, reportedly due to low sales and customer confusion around returns. Similar to Target, Best Buy's rebooted marketplace will bring in vendors by invite only. Best Buy launched a refined approach to the third-party marketplace in Canada in 2016. Third-party sellers now account for 25% of orders shipped on according to Jefferies. The U.S. marketplace could account for 14% of online sales by the end of the decade, according to the investment bank's research. "Canada's had a marketplace for nine years and we've learned a lot from all the success they've had. We want to make sure we replicate that in the U.S. and even make it a little bit better," Bonfig said. Barry previously said Best Buy's U.S. marketplace will focus more on new products and offering multiple versions of the same product. "I think what we've learned from Canada is that there is a demand to go deeper into the assortment," Barry said in an earnings call. "We can see that in customers who are searching our website and looking for a broader selection or looking for a broader quantity of products, and we just don't have them there." Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
USA Today
24-06-2025
- Business
- USA Today
Target vows to maintain ‘2024 prices' for some back-to-school shopping
Target has promised not to raise costs for back-to-school items this year, offering a sigh of relief to customers who enjoyed 2024's prices. Shoppers will also enjoy seeing last year's list of 20 must-have supplies that cost less than $20, as well as its top-selling $5 backpack, the retail giant announced on Monday, June 23. "This is such an important time for everyone preparing to head back to class — or heading off to school for the first time," Target's Executive Vice President Rick Gomez said in a news release. "The Target team will be there for families by holding last year's prices on key school supplies and standing tall for unrivaled style, quality and exceptional value. We're proud to be a part of back-to-school and back-to-college traditions." The retailer also vowed to offer discounts for students and teachers. Also returning this summer is the company's annual Target Circle Week event with special deals for school supplies, electronics and other products. Not everything is the same though, as Target is launching a new school supplies lineup that includes 35-cent notebooks, composition books starting at 50 cents and lunch sacks at $3. Back-to-school supplies: What's back this year at Target? When is Target Circle Week? This year's Target Circle Week is set for July 6-12, offering back-to-school deals for K-12 and college students. Target Circle 360 members will have access to these deals a day early, starting July 5. Exclusive benefits continue for members of the company's Target Circle 360 program with a 50% discount on a one-year membership through Sept. 13, according to Target.
Malaysian Reserve
23-06-2025
- Business
- Malaysian Reserve
Target to Hold 2024 Prices on School Supplies as It Kicks Off Back-to-School and College Season
Target brings back its 20 must-have school supplies for a total of less than $20 The retailer's popular 20% off student and teacher discounts return again this year Target Circle Week set for July 6-12, with early access to deals for Target Circle 360 members starting July 5 MINNEAPOLIS, June 23, 2025 /PRNewswire/ — Target Corporation (NYSE: TGT) today announced it is maintaining its 2024 prices on key back-to-school items, including its popular list of 20 must-have supplies — still adding up to a total of less than $20 — and last year's top-selling $5 backpack. It's part of the retailer's back-to-school and college plan to prioritize value, style and convenience across school supplies, classroom essentials, dorm décor and on-trend apparel. The retailer also announced the return of its student and teacher discounts, as well as its guest-loved sales event, Target Circle Week, July 6-12 for additional savings on school supplies, electronics and more. 'This is such an important time for everyone preparing to head back to class — or heading off to school for the first time,' said Rick Gomez, executive vice president and chief commercial officer, Target. 'The Target team will be there for families by holding last year's prices on key school supplies and standing tall for unrivaled style, quality and exceptional value. We're proud to be a part of back-to-school and back-to-college traditions. And across our assortment, we have great prices on everything needed to get the new school year off to a great start.' Back-to-school must-haves at 2024 prices Target is making back-to-school shopping more affordable by maintaining last year's prices on must-have supplies and offering more ways for consumers to make the most of their budget so they can have it all — high-quality, on-trend products at a great value — as they prepare for the new school year: 20 supplies for under $20. Target is bringing back its popular list of 20 essential school supplies that add up to less than $20 total, including crayons, colored pencils, notebooks, folders and more. School items under $5. Over 1,000 back-to-school items are $5 and under, including school supplies starting at $0.25, $2 water bottles and $5 wired headphones. First-day-of-school outfits from $5. Cat & Jack outfits start at $5, making it easy for parents to dress young students in affordable, on-trend clothing. dealworthy school supplies. New this year, the retailer's dealworthy brand is expanding its value-priced lineup to include school supplies such as notebooks starting at $0.35, composition books starting at $0.50, lunch sacks at $3 and backpacks at $5. Teacher essentials starting at $3.50. Teachers can get classroom-ready affordably, with essentials like storage bins, dry erase markers and classroom décor starting at $3.50. College-ready essentials — trend-forward and most under $40 This season Target is creating value in new ways for back-to-college shoppers, while making it easy to get everything students need to feel at home on campus. Highlights include on-trend, high-quality products at affordable prices, including: Apparel from $5 across Target brands Wild Fable, Goodfellow & Co, Universal Thread, A New Day and more Storage solutions from $5 Bedding starting at $10 Heyday tech accessories from $10 Trendy lighting and lamps from $10 Room Essentials Puffer Comforter for $40 New brands and expanded assortments Target is also putting its unique mix of top national brands, only-at-Target brands and new partnerships to work for students of all ages, including: Champion for Target. Launching in August, the Champion collection for Target will offer a fresh take on Champion's signature look, featuring a unique line of high-quality, trend-forward activewear and sporting goods for adults and kids — with most items under $40. Herschel x LEGO. This new playful collection of a dozen adult and kids' backpacks, hip packs and lunchboxes combines Herschel's durable and practical products featuring fun LEGO designs — starting at $28. The assortment will be available to shop in select stores and beginning in July. Studio McGee teen collection. Cozy florals, multi-functional furniture and stylish décor designed for tweens and teens will help them personalize their space beautifully — starting at $16. New Target Plus brands and items: Target is expanding its lineup of back-to-school and college essentials from guest-favorite brands, including mattresses and bedding from MLily, licensed wall decor from The Fan-Brand, school uniforms from French Toast and more. Target Circle Week returns, plus special student and teacher discounts The retailer's free-to-join Target Circle program and paid Target Circle 360 membership option make it easy for members to unlock exclusive deals, early access and special discounts, saving even more money on back-to-school and back-to-college items. This season, Target Circle and Target Circle 360 members can save via: Target Circle Week: The week-long savings event returns July 6-12 with major deals on back-to-school and college essentials. Target Circle 360 members get early access to deals starting July 5. Student discount: Verified college students can enjoy a one-time 20% off storewide discount with Target Circle starting June 29 — two weeks earlier than last year. Teacher discount: Verified teachers receive a one-time 20% off storewide discount with Target Circle from July 20-Aug. 30, plus access to curated classroom sets and wish list tools. Save 50% on Target Circle 360: Through Sept. 13, teachers and students can also join Target Circle 360 and save 50% on a one-year membership, giving them access to exclusive member benefits like unlimited same-day delivery on orders over $35 right to their dorm or classroom — perfect for weekly groceries and essentials. More ways to save time and money when back-to-school shopping at Target Target delivers ease, value and convenience through its industry-leading fulfillment options and loyalty programs, along with tools and bundles to help families and teachers prep for the year ahead. Target Circle, the retailer's free-to-join loyalty program, gives members access to everyday savings and benefits like exclusive partner perks with Ulta Beauty and Apple, customized bonuses to earn Target Circle Rewards and personalized savings like a 5% off birthday gift. Target Circle 360, the retailer's paid membership program, offers unlimited same-day delivery in as little as a few hours; members-only early access to shop big sales and brand collabs; a selection of free gifts and exclusive discounts to choose from each month; and access to Shipt's 100-plus grocers and specialty retailers with no price markups, so guests can do more shopping without making multiple stops. Personalized wish lists for teachers and college students help them organize their must-haves and prep for school. School List Assist simplifies supply shopping right in the Target app with three easy steps: Consumers can find their child's class, choose their delivery method and check out their items. Value bundles on and the Target app help guests get more of what they need for less — including back-to-school and college essentials like shampoo, skin care and everyday snacks. Whether shopping in-store or online, guests can also take advantage of Target's fast and reliable fulfillment services, including Drive Up and Order Pickup. And with the Target Circle Card1, members save an extra 5% every day, helping families stretch their budgets even further during back-to-school season and beyond. About Target Minneapolis-based Target Corporation (NYSE: TGT) serves guests at nearly 2,000 stores and at with the purpose of helping all families discover the joy of everyday life. Since 1946, Target has given 5% of its profit to communities, which today equals millions of dollars a week. Additional company information can be found by visiting the corporate website and press center. 1. Restrictions apply. Subject to application approval and identity verification. See for program rules and details.
Yahoo
28-05-2025
- Business
- Yahoo
Target Kicking Off Summer With Tons of Merch Under $20 for Their 'Hello Summer' Sale
Target is helping customers bring in summer in a big way by adding 10,000 new items to its store shelves. Their aim is to help customers celebrate all summer long by offering plenty of deals, with many of these new products ranging from $1 to $20. They also plan to do Saturday giveaways throughout June and plenty of weekly deals for Target Circle members. Target will kick off this summer extravaganza with its 'Hello Summer' sale, the week of May 18 to May 26, as a way to introduce this season of savings, offering plenty of deals up to 50% off. SIGN UP for the Dengarden / Parade Home & Garden newsletter for a weekly dose of our favorite house hacks, decor trends and shopping deals Target's 'Hello Summer' sale couldn't have come at a better time. While many experts are expecting a cool-down in spending due to the recent tariffs and trade war, retailers like Target are proactively embracing the potential impact of tariffs by offering great deals all summer the week before Memorial Day, Target will begin rolling out some of its 10,000 new items and continue to do so until August. This new assortment will include items such as swimwear, outdoor entertainment, snacks, beauty, home, and the like. "With more than 10,000 new items across our assortment, and many starting at just $1, we have something for every celebration — and it's all fresh, fun, inspiring, and incredibly affordable," said Rick Gomez, executive vice president and chief commercial officer, Target, in a recent press release. Customers requested more in-store entertainment, so Target's response is its 'Hello Summer' event. In addition to an enormous influx of new items to save on, customers will also enjoy a summer filled with unique experiences. Shoppers can expect a Boardwalk Shop, which offers seasonal treats, Build Your Beach Bag, which includes travel-sized items for beach and poolside lounging, and the Sun Shop, which includes suncare products. For more information about the 'Hello Summer' sale, check out Target's recent press release. Target Kicking Off Summer With Tons of Merch Under $20 for Their 'Hello Summer' Sale first appeared on Dengarden on May 21, 2025
Yahoo
23-05-2025
- Business
- Yahoo
Target Stock Is Down 30% Year to Date. Buy the Dip?
Target's first-quarter results fell short of expectations. The retailer lowered its full-year outlook for sales and adjusted earnings per share. Despite the stock's big pullback this year, investors should be skeptical. 10 stocks we like better than Target › Target (NYSE: TGT) has seen its stock price tumble approximately 30% year to date, underperforming the broader market by a wide margin. Its disappointing financial results this year have raised questions about the retailer's ability to return to steady, meaningful growth. The company's challenges were especially put in the spotlight on Wednesday morning, when Target reported a decline in sales. Adding to the bad news, management said it no longer expects sales to grow this year. While the results are discouraging, some investors may be wondering if the stock's steep pullback is a buying opportunity. After all, with shares down so sharply, could all of the bad news already be priced into the stock? The company's recent first-quarter fiscal 2025 earnings report revealed a 2.8% decline in net sales to $23.85 billion, missing Wall Street expectations. Comparable store sales dropped 3.8%, with a 5.7% decrease in physical store sales. This was partially offset by a 4.7% increase in digital sales. Adjusted earnings per share fell 35.9% to $1.30, below analysts' consensus forecast of $1.61. Although GAAP earnings per share rose to $2.27. But this figure was aided by a legal settlement. Several factors have contributed to Target's recent struggles. The company attributed the sales decline to economic uncertainty, tariff impacts, and customer boycotts related to its stance and recent retreat on diversity, equity, and inclusion (DEI) initiatives. Given these troubles, Target downgraded its 2025 outlook, now anticipating a low-single-digit sales decline rather than the previously projected 1% increase. Further, management said it now expects adjusted earnings per share for the year to be between $7 and $9. Previously, management was targeting a range between $8.80 and $9.80. Given consumers' declining confidence in an uncertain environment, Target is rolling out more items at lower prices to appeal to its customers' growing interest in value. Specifically, the company is launching 10,000 low-cost products to attract budget-conscious shoppers. Regarding tariffs, Target is reducing its dependence on Chinese imports. Management said that 30% of its products come from China today. But it expects that figure to come down 25% by the end of next year. "We are expanding into new countries, Asia as well as the Western Hemisphere," said Target executive vice president Rick Gomez during the company's first-quarter earnings call, "but I think it's important to note that we're also exploring opportunities here in the U.S." Perhaps the biggest thing the company has going for it is its dividend yield of about 4.6%. But it's worth remembering that dividends could always be paused, reduced, or cut in the future -- especially if financial pressures persist. Another potential reason investors may be tempted to consider the stock is its cheap valuation. Shares trade at less than 12 times adjusted earnings per share. Some investors may believe, therefore, that the stock's recent pullback is an overreaction. But even this reason to consider buying shares may not be adequate, since things could get worse before they get better. Investors may want to adopt a cautious, wait-and-see approach with Target stock. The company's efforts to revitalize its business and address the uncertain environment in which it is operating could be less effective than planned or take longer than expected. Sure, this approach could prove to be too cautious; it's always possible that shares are truly nearing a bottom, providing a good buying opportunity. But visibility is low and risks are high. I'd argue, therefore, that there are probably better investments to consider. Before you buy stock in Target, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Target wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $644,254!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $807,814!* Now, it's worth noting Stock Advisor's total average return is 962% — a market-crushing outperformance compared to 169% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Daniel Sparks and his clients have no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Target. The Motley Fool has a disclosure policy. Target Stock Is Down 30% Year to Date. Buy the Dip? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
