Tanger Outlets Reports 4.2% Holiday Sales Growth Amid Consumer Confidence Decline
Written by Emily J. Thompson, Senior Investment Analyst
Source: Newsfilter
- Strong Holiday Traffic: Tanger Outlets CEO Stephen Yalof reported robust holiday traffic with full parking lots throughout November and December, indicating consumer resilience despite declining confidence in the economy.
- Promotions Drive Sales: Widespread holiday promotions helped sustain sales as retailers catered to consumers seeking value, with Yalof noting that shoppers are willing to spend if they perceive the prices as compelling.
- Retail Spending Growth: Preliminary data from Visa indicated a 4.2% year-over-year increase in U.S. holiday retail spending, with in-store shopping accounting for 73% of total spending and online sales rising by 7.8%, highlighting active consumer engagement across channels.
- Declining Consumer Confidence: Despite increased spending, the consumer confidence index fell to 89.1 in December from 92.9 in November, reflecting concerns over high prices and tariffs, which may impact future spending behavior.
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Analyst Views on TGT
Wall Street analysts forecast TGT stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for TGT is 98.83 USD with a low forecast of 80.00 USD and a high forecast of 126.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
26 Analyst Rating
8 Buy
14 Hold
4 Sell
Hold
Current: 102.840
Low
80.00
Averages
98.83
High
126.00
Current: 102.840
Low
80.00
Averages
98.83
High
126.00
About TGT
Target Corporation is a general merchandise retailer selling products to its guests through its stores and digital channels. The Company offers customers, referred to as guests, everyday essentials and fashionable, differentiated merchandise at discounted prices. The majority of its stores offer a wide assortment of general merchandise and food. Its merchandise categories include apparel and accessories, beauty and household essentials, food and beverage, hardlines, and home furnishings and decor. Most of its stores are larger than 170,000 square feet, offer a variety of general merchandise and a full line of food items comparable to traditional supermarkets. Its digital channels include a wide merchandise and food assortment, including many items found in its stores, along with a complementary assortment sold by the Company and third parties. Its brands include A New Day, Ava & Viv, Cloud Island, Favorite Day, and others. It serves guests at nearly 2,000 stores and at Target.com.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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