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Published: Wednesday 23 October, 2013

longchamp bags sale uk longchamp bags sale uk ´╗┐Target is starting to see some rays of hope

The frugalista has replaced the fashionista in Americans recessionary mindset, and Target Corp. believes its beginning to convince consumers that its prices are as good or better than its competitors.

Its one of several rays of hope the Minneapolisbased retailer identified Tuesday, even as it reported that secondquarter profit fell 6.3 percent from a year earlier to $594 million, or 79 cents a share. It was the eighth consecutive decline in quarterly profit for Target, the nations secondlargest discount retail chain.

Still, the results exceeded Targets own median estimate of 64 cents and Bloombergs projection of 66 cents. The news boosted shares 7.1 percent, to close at $44.32. The companys stock has risen by nearly a third since the first of the year.

CEO Gregg Steinhafel is circumspect about the year ahead, and said the company remains focused on keeping expenses down and inventory in check as consumers continue to be picky about when and where they spend their money. Maxx.

Weve got a 47year heritage of a company that focuses on trend and fashion and being new and hip and cool and fun and exciting, said Steinhafel, in an interview after the morning conference call with analysts. Not only do we want to defend those attributes, we want to enhance those attributes, while at the same time enhancing the value proposition.

Target has spent the past year shifting its advertising message to em longchamp bags sale uk phasize the pay less side of its slogan, Expect more. Pay Less. Its circular ads in recent months have become even bolder, pushing its deals in bigger headlines and with fewer products. Signs on end caps are more plentiful in promoting deals. The company also has used social media, direct mailings and receipt coupons to drive traffic. In June, it tested what is now a nationwide pricematching program that executives said seems to have caught the consumers attention.

Steinhafel said stores nationwide are having to adjust the price on one item every few days when consumers bring in ads from other stores. He said this validates the companys longheld claim that the retailer was competitive on prices, but customers simply didnt believe it.

They did such a great job of marketing their brand image, that its ingrained. To get people to accept another message is difficult, said Twin Cities retail consultant Stan Pohmer. Target has finally come out and made a commitment to their valuepricing in media advertising. Coupled with the fact that their demographic is feeling considerably better about their financial future than the average WalMart demographic, things may be starting to change.

Total revenue, including retail and credit cards, fell 2.6 percent, to $15.07 billion, for the quarter. Profit from credit card revenue was down 15 percent, and baddebt expenses increased 19 percent. But company executives were quick to note that the $500 million in revenue gained from credit card operations was down only 0.1 percent, signaling that the segment is stabilizing and outperforming the industry.

Basic commodities continue to drive sales, and shoppers are reducing the number of trips they make to the store. Weekend trips have declined even more than weekdays, said Kathee Tesija, senior vice president of merchandising.

Groceries, health care items and beauty items remain strong. About 40 general merchandise stores nationwide have added minigrocery areas as part of a 100store pilot program that appears to be boosting store traffic. Target said its privatelabel brands, which include Market Pantry and Archer Farms, now make up about 20 percent of food sales.

The company also said it was getting a boost in skin care and cosmetics as some of its more affluent customers trade down from higherend department store products. Sales of shoes and womens clothes, as well as home decor and patio furniture continue, to drag.

Target joins other retailers in feeling cautious about the holiday season. Doug Scovanner, Targets chief financial officer, said that while it was possible the company could see fourthquarter samestore sales swi longchamp bags sale uk ng to the positive, were not counting on it.

August sales are slightly above expectations so far, and the company said it wont back off unveiling new trendy and affordable fashion offerings. Among its upcoming rollouts: A longchamp bags sale uk nna Sheffield silver jewelry for $49.99 or less for a limited time, a fiveweeklong run of Anna Sui for the Designer Collaboration series and Carlos Falchi handbags, available from early November to December.

And because Halloween falls on a Saturday, Tesija said Target will show our guests how they can throw a great party for less, with many party favors and accessories for under $3.

The company said it now will open a net of 10 new stores in 2010, after earlier projecting just five. longchamp bags sale uk