Tuesday, December 09, 2008

Target Undercut By Consumer Credit Charges

Amid declining comparable store sales resulting from a decrease in consumer spending, discount retailer Target (TGT-$39.00) is also being adversely affected by rising bad debt expenses as consumer creditworthiness continues to deteriorate. In response, Chief Financial Officer Doug Scovanner told investors on the November earnings call that the retailer is further tightening finance terms for its card holders…. read more….

Editor David J Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.

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