Talented Blonde CEO Kristin Bentz: Target Won't Raise Wages Just Yet
Retail expert and Talented Blonde CEO Kristin Bentz weighed in on Target Corporation (NYSE: TGT), in light of the recent announcement that Wal-Mart Stores, Inc. (NYSE: WMT) will be spending $1 billion this year to give raises to 500,000 full and part-time employees.
Bentz told Benzinga, regarding Target and raising wages, "I don't necessarily think they have to go there just yet."
She explained that Target is leaving Canada, which was "a total debacle, they never belonged there… now going back with their tail between their legs."
Bentz sees Target focusing on private labels "who are making special lines for the Target consumer," but still carries the brand label. She gave Mossimo, a lifestyle clothing brand, as one example.
Bentz said that "high/low" designer collaborations have historically done quite well for Target.
Regarding wages and the retail consumer, while noting that things are slowly getting better, she mused "The problem is, who is it getting better for?"
Shares of Target closed Thursday at $76.68, down 0.87 percent.
Bill Stoller and Brianna Valleskey contributed to this report.
Latest Ratings for TGT
|Sep 2016||Guggenheim||Initiates Coverage on||Neutral|
|Sep 2016||Cowen & Co.||Downgrades||Outperform||Market Perform|
|Aug 2016||Goldman Sachs||Maintains||Neutral|
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