Now affecting retail markets. Target down 25 per cent today on earnings. Wait til the labor market is hit then the commercial mortgage backed securities. This Biden "trasnsitory inflation" appears to be not so transitory.lol

We're in for fun times even though a good portion of the US populace is in denial mode




https://seekingalpha.com/news/38403...ail-sector?v=1652881142#comment-92367826


Mall stocks are reeling after Target drops a profitability bomb on the retail sector
May 18, 2022 8:23 AM ETTarget Corporation (TGT)BBWI, TJX, M, JWN, KSS, DDS, GPS, AEO, VSCO, URBNBy: Clark Schultz, SA News Editor37 Comments
Profit Rises 18 Percent At Target Corp
Scott Olson/Getty Images News

The mall store sector fell in early trading on Wednesday after Target (NYSE:TGT) rattled the sector by lowering guidance on "unexpectedly" high costs that were not passed on fully to consumers.

Target (TGT) was less profitable than anticipated and guided for weak operating margin. The retailer was hit by inventory issues (too early and too late), wage pressure at distribution centers, and an unfavorable merchandise mix. Meanwhile, TJX Companies (TJX) also warned of higher freight and labor costs with its earnings report.

Target (TGT) fell as much as 24% in the premarket session. With many earnings reports and guidance updates still due out in the retail sector, traders are jittery again on the near-term outlook.

Macy's (M) -5.82%, Nordstrom (JWN) -5.56%, Kohl's (KSS) -5.10%, Dillard's (DDS) -3.05%, Gap (GPS) -3.59%, American Eagle Outfitters (AEO) -3.48%, Victoria's Secret & Co. (VSCO) -3.77%, Bath & Body Works (BBWI) -4.25%, and Urban Outfitters (URBN) -1.99% all showed losses in the premarket session.