Big-box retailer Target (NYSE: TGT) was dealing with excessively high inventory numbers earlier this year, to the point the company had to slash prices to get product moving and out of its doors. This past quarter, the company dealt with the fallout of that; its margins took a big hit, as well as the bottom line.
Unfortunately, inventory levels remain high, and the company may not be out of the woods just yet. Is Target a stock that's in trouble, or does its steep 30% decline this year make it an attractive buy on the dip?
Last week, Target released its second-quarter earnings numbers. For the period ending July 30, the company's sales totaled $26 billion and rose 3.5% year over year. Comparable store sales, however, grew at a rate of only 1.3%.
Source Fool.com