WEBVTT - Target Falls, TJX Hits Record High, Coty Drops

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News.

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<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>Well, let's take a look at some stocks on the

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<v Speaker 3>move today. I'm Emli GRIFFEO with Tim Stenovic, and we're

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<v Speaker 3>joined by Bloomberg News Equities reporter Carmen Reinikey okay. Target.

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<v Speaker 3>That was like the big the Big Earth was bonanza.

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<v Speaker 3>Everyone was supposed to be watching it and what happened.

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<v Speaker 4>Yeah, So shares of Target ticker TGT. They ended the

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<v Speaker 4>day down six point three percent. This is the worst

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<v Speaker 4>day since April had early tariff trough. So really wasn't

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<v Speaker 4>even about the earnings the reason that the stock sold

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<v Speaker 4>off so much today. So Target's been in sort of

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<v Speaker 4>the midst of a turnaround for some time, and they

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<v Speaker 4>are replacing their CEO in their naming their current COO,

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<v Speaker 4>Michael Fiddlekey to succeed. And investors and analysts were clearly

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<v Speaker 4>hoping for an outsider here. They think that someone who's,

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<v Speaker 4>you know, an insider to the company who's been there

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<v Speaker 4>for a long time. I think he's been there over

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<v Speaker 4>twenty years. They think that there won't be as quick

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<v Speaker 4>of a catalyst for change as some people were hoping.

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<v Speaker 4>So I think that really was what drove more of

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<v Speaker 4>the stock sell off today than the actual workings report.

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<v Speaker 1>On his part, fiddle Key said in an internal meeting

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<v Speaker 1>on Wednesday, shortly after he was announced as the company's

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<v Speaker 1>next leader, quote, there are no shortage of critics out

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<v Speaker 1>there today. The way to prove those critics wrong is

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<v Speaker 1>with action that leads to results. He's got a tough

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<v Speaker 1>task ahead of him.

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<v Speaker 4>Yeah, he really does. And I mean we've seen a

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<v Speaker 4>lot of I think, like CEOs being moved around this year.

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<v Speaker 4>There was a great piece out I think today or

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<v Speaker 4>yesterday about the price of you know, having a new CEO.

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<v Speaker 1>So yeah, Matt Boyle and the team writing that story,

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<v Speaker 1>I encourage you to check it out on the Bloomberg

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<v Speaker 1>terminal and at Bloomberg dot com.

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<v Speaker 4>Something we're all watching and think thinking about a lot.

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<v Speaker 3>Maybe he'll bring the popcorn back a target.

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<v Speaker 1>Remember when they know I have no idea what you're

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<v Speaker 1>talking about.

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<v Speaker 4>We didn't have this at my target.

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<v Speaker 1>Oh really, are you sure you're talking about Target and

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<v Speaker 1>not like the local Ace hardware store.

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<v Speaker 3>Because that is very Connecticut. Target used to have oh, Stanford, Connecticut.

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<v Speaker 1>Okay, that makes.

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<v Speaker 3>Sense, Like the whole Target smell like popcorn, and I

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<v Speaker 3>don't know that was a while ago. Okay, Well, TJ Max,

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<v Speaker 3>they don't have popworn or I can't believe it.

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<v Speaker 1>No, we didn't have that.

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<v Speaker 3>That was like a effect. I guess. Okay, TJ Max,

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<v Speaker 3>take your ts JX.

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<v Speaker 4>So the tale of two consumer stocks today. TJ Max

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<v Speaker 4>ended the day up two point seven percent. This is

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<v Speaker 4>the highest sense nineteen eighty probably on record for the company. Basically,

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<v Speaker 4>they they saw that, you know, a more cautious consumer

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<v Speaker 4>is boosting you know, sort of their their sales because

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<v Speaker 4>they're a discount retailer. So this this company owns both

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<v Speaker 4>TJ Max and Marshalls. They raised their fullyer earnings per

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<v Speaker 4>share outlook and people liked it.

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<v Speaker 3>And people are maybe going and hard hunting for bargains.

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<v Speaker 1>Not popcorn popcorn.

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<v Speaker 3>Maybe you can get discount of popcorn. It TJ Max.

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<v Speaker 1>There's another company, a retailer out with earnings after the

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<v Speaker 1>bell today. Well, I guess I can't say retailer, but

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<v Speaker 1>retail adjacent, provider adjacent.

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<v Speaker 4>So what we're talking about is cot tick er c

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<v Speaker 4>o t Y shares are down twelve percent and after

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<v Speaker 4>hours trading today, they just released their earnings report. Basically,

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<v Speaker 4>they reported a wider than expected loss, so an adjusta

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<v Speaker 4>lost per share of five cents, where the expectation was

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<v Speaker 4>for a profit of over a one cent. So Cody

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<v Speaker 4>owns like a bunch of makeup brands. So the one

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<v Speaker 4>that I really know is Kylie Cosmetics, but then they

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<v Speaker 4>also have a lot of sort of like luxury brands

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<v Speaker 4>like Gucci, I think, Escada, and then some I think

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<v Speaker 4>some more.

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<v Speaker 3>Like cover Girl, Yeah, exact stort brands too. Yeah, so.

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<v Speaker 4>I think what they're seeing they also actually highlighted tariffs

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<v Speaker 4>that they're seeing a more cautious consumer. They also think

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<v Speaker 4>are trying to sell off their high end perfume brands.

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<v Speaker 4>So they're sort of in the middle of a lot

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<v Speaker 4>right now.

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<v Speaker 1>At KOT, I was in an airport last week. I

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<v Speaker 1>don't even I took a lot of flights last week,

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<v Speaker 1>so I don't even know which airport it was. It

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<v Speaker 1>could have been Atlanta, could have been New York. There

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<v Speaker 1>was a Highlie Cosmetics vending machine in the airport.

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<v Speaker 3>I've seen photos of that. Yeah, this has actually been

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<v Speaker 3>a thing.

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<v Speaker 4>For a long time.

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<v Speaker 1>Oh okay, look through my phone when I'm at the airport,

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<v Speaker 1>purchased from one.

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<v Speaker 4>But yeah, you do see them.

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<v Speaker 3>I guess you're in the airport you're like, oh my god,

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<v Speaker 3>I need a lipliner right now to get on the plane.

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<v Speaker 4>Maybe they took it from you at you know, at

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<v Speaker 4>the sity.

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<v Speaker 3>They're like, I need it.

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