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TGT - Target News Story

$202.96 -6.3  -3.0%

Last Trade - 9:10pm

Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £73.62bn
Enterprise Value £76.57bn
Revenue £66.16bn
Position in Universe 121st / 6853

BREAKINGVIEWS-Capital Calls-GameStop’s digital play

Fri 9th April, 2021 5:19pm
(The author is a Reuters Breakingviews columnist.  The opinions
expressed are their own.)
    NEW YORK, April 9 (Reuters Breakingviews) - Concise insights
on global finance in the Covid-19 era.
 
    -------------------------------------------------
CLICKS AND BRICKS. GameStop  GME.N , the $12 billion company
buoyed by Reddit fans, plans to elect https://news.gamestop.com/news-releases/news-release-details/gamestop-announces-slate-director-candidates-2021-annual-meeting
 Chewy  CHWY.N  co-founder Ryan Cohen to chairman. He may help
steer the brick-and-mortar retailer to an e-commerce future,
even if such transitions can be fraught. 
    Cohen wants to turn GameStop into the “Chewy of gaming” with
better prices  urn:newsml:reuters.com:*:nL1N2LL173, according to Reuters. Downsizing
some 5,000 retail outlets across the globe is in the cards
though the plan is to use remaining stores for distribution,
allowing customers to shop online and pick up in stores, for
instance. It’s the playbook  urn:newsml:reuters.com:*:nL1N2FM0WV for many retailers
including Macy’s  M.N  and Target  TGT.N .
    It doesn’t always go smoothly. Take Chewy competitor Petco
Health and Wellness  WOOF.O , which has about 1,500 locations
and is emphasizing online sales too. Fourth-quarter revenue rose
16% year-over-year to $1.3 billion but Chewy did better,
increasing sales 51% in the same quarter to $2 billion. Gaming
e-commerce is not a sure shot. (By Jennifer Saba)

    On Twitter http://twitter.com/breakingviews
    
    Earlier in Capital Calls:
    
    Netflix ups the ante on movies  urn:newsml:reuters.com:*:nL1N2M21BX
    Tui cash call adds rain to Europe summer holiday
 urn:newsml:reuters.com:*:nL4N2M22LD
    South Korea gaming IPO primes for high score  urn:newsml:reuters.com:*:nL4N2M2170
    Cellebrite good times  urn:newsml:reuters.com:*:nL1N2M12I5
    Robinhood makes merry mischief  urn:newsml:reuters.com:*:nL1N2M11JY

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| Editing by Robert Cyran and Amanda Gomez)
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