Finimize - 📉 Target goes from bad to worse

Target's hoarding came back to bite it | Apple finally made its move |

Hi Reader, here's what you need to know for June 8th in 3:11 minutes.

♻️ In case you hadn’t noticed, there are a lot of changes happening around the world right now. Join abdrn’s Jeremy Lawson for The Geopolitics Of Energy Transition on Wednesday, and find out how to spot the energy investments that can make it through this state of flux. Grab your free ticket

Today's big stories

  1. Target cut its profit outlook again, admitting it needs to clear house
  2. Our analyst might have found a crypto with big comeback potential – Read Now
  3. Apple’s making a move into the buy-now-pay-later market

Hoard Games

Hoard Games

What’s Going On Here?

Retail giant Target issued its second profit warning in three weeks on Tuesday.

What Does This Mean?

Target’s investors were sent sprawling last month by the biggest one-day drop in the company’s share price since 1987. But just as they were dusting themselves off, Target’s given them another shove: the retailer just cut its profit outlook again, as it takes “aggressive steps” to reduce a stockpile of products that was 43% bigger last quarter than the same time in 2021. Target said the move will make room for big-sellers eventually, but that it’s going to have to offer big discounts and cancel orders in the meantime. Investors looked down at their scraped knees, scowled up at Target, and sent its stock down 10%.

Why Should I Care?

The bigger picture: What’s a retailer to do?
Target was sort of painted into a corner here: the company needed to stay stocked up enough that it wouldn’t run out of merchandise amid all the supply bottlenecks, but not so much that it ended up with an excess of useless goods. That’s a sweet spot the retailer clearly wasn’t able to hit, even before record inflation changed spending habits even more. At least it wasn’t the only one: Walmart is in a similar position after having chartered its own ships earlier this year to keep the goods coming.

Zooming out: Good things come to Kohl’s who wait.
If Kohl’s only issue was how much stock it had, the pandemic-bruised department store probably wouldn’t have been forced to look for a buyer. Kohl’s announced on Monday that it’s in exclusive negotiations to be bought out for $60 a share by retail company Franchise Group, which would value the business at around $8 billion. Investors think this could finally be the start of the end of a sale process that’s been dragging on for more than half a year, and its stock jumped 10%.

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Analyst Take

Could THORchain Bring The Thunder?

Could THORchain Bring The Thunder?

By Jonathan Hobbs, Analyst

It’s no secret that the crypto market has given up the ghost this year.

But cast your mind back to January till March, and the backdrop was very different: bitcoin was rebounding from $33,000 to $48,000, and opportunities were coming out of our ears.

One of those opportunities was THORchain’s RUNE, which more than quadrupled in value over the same period – even if it has given those gains back since.

But the fact it rallied so much when bitcoin rebounded is important: it suggests THORchain – which allows users to swap assets from different blockchains – could be pretty invaluable.

So if you’re wondering how to buy the crypto dip, Rune might be god’s gift to your portfolio.

It’s all in today’s Insight.

Read or listen to the Insight here

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What’s Going On Here?

Apple announced plans earlier this week to push into the buy-now-pay-later (BNPL) market.

What Does This Mean?

There have been mutterings that Apple is about to launch a BNPL product since March, when the company bought out credit check startup Credit Kudos. So cue the “I told you so” brigade: the tech giant has just announced that it’ll be launching Apple Pay Later – a service that’ll allow Apple Pay’s American users to buy things in four interest-free installments over six weeks (tweet this).

It’s arguably an odd time for Apple to enter the BNPL market, whose rapid growth has petered out as inflation has climbed and the ecommerce boom has tailed off. But Apple’s confident it’s made the right decision: the move could encourage more people to use Apple Pay to buy what they need, not to mention allow the company to make more inroads into financial services.

Why Should I Care?

For markets: Oh great. More competition.
BNPL mainstays Klarna and Affirm need Apple in the market like they need a hole in the head. Klarna is currently in the midst of offsetting its borrowing costs – which just hit a record high on the back of rising interest rates – by cutting 10% of its workforce, while Affirm’s stock has now plummeted 75% this year. And things are only going to get harder: analysts are anticipating that more and more cash-strapped customers will either wind down their spending or struggle to pay off their loans altogether.

The bigger picture: Won’t someone please think of the borrowers?
Plus, regulators are keeping an especially close eye on the BNPL industry, with speculation rampant that it’s only a matter of time before they roll out profit-damaging measures. Probably the honorable thing to do, mind you: they’re worried that the soaring cost of living could lead to irresponsible lending among BNPL companies, leaving consumers with insurmountable piles of debt.

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💬 Quote of the day

“Well done is better than well said.”

– Benjamin Franklin (an American polymath)
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🌎 Finimize Live

🎉 Coming Up This Week

All events are in UK time.

⚡️ The Geopolitics Of Energy Transition: 5pm, June 8th
🌿 Why The Weed Industry Is Growing So Fast: 12pm, June 9th
🎮 How To 1UP Your Portfolio With Video Games: 5pm, June 9th
🤔 Should You Invest In Bonds?: 5pm, June 10th
🏦 What’s Next For The Banking Sector?: 1pm, June 13th
🎨 What Will Lead To Mass Adoption Of NFTs?: 5pm, June 13th
🎉 How To Invest Early In Polkadot Projects: 12pm, June 14th
🌍 How And Where To Invest In Africa: 5pm, June 14th
🚀 Finimize NFT Fest: 12pm, 15th June
🏡 Real Estate In The Metaverse with Unstoppable Domains: 1pm, June 15th
💻 The Path To Achieving Mass Adoption Of Web 3.0 with Unstoppable Domains: 4pm, June 15th

💪 And Then After That…

🌿 Is The Grass Greener For Cannabis Investors?: 5pm, June 16th
📉 What To Do In A Declining Market?: 7pm, June 16th
😎 The Impact Of Web3 On Music, Culture, And Community: 12pm, June 17th
👉 Mining Crypto With IoT Devices: 6pm, June 17th
♻️ The Pros And Cons Of Investing In Green Energy Today: 12pm, June 21st
⛔️ How Not To Invest In The Next Luna: 1pm, June 22nd
🥕 Investing In The Rise Of Plant-Based Food: 1pm, June 23rd
🤗 Investing In Metaverse Opportunities: 5pm, June 23rd
♻️ Analysing Emerging Trends In Green Stocks: 5pm, June 27th
🇺🇸 How To Prepare For A Recession: 1pm, June 29th
🏠 Blockchain And Real Estate: What’s Next?: 6pm, June 29th
🏘 How To Diversify Your Crypto Investments Through Commercial Real Estate: 6pm, August 3rd
🏡 Tokenizing Real Estate: 6pm, September 13th

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