Target ’s inventory problem is turning out even worse than it expected just a short time ago. Its latest warning could portend a promotional bloodbath among retailers this summer.
The retailer on Tuesday lowered its operating-margin guidance for its second quarter to 2%, less than half the margin it telegraphed three weeks ago. The company said it is taking actions to “right-size” its inventory, which will involve more discounts and canceling orders.
Source: https://www.wsj.com/articles/target-inventory-warning-portends-retail-bloodbath-11654619282?siteid=yhoof2&yptr=yahoo