Target's better-than-expected Q2 earnings have drawn attention on Wall Street, but the retail sector faces mixed signals as consumers remain under pressure. TD Cowen Senior Research Analyst Oliver Chen, who has a Hold rating on Target, expressed cautious optimism, noting improvements in apparel and discretionary merchandise.
However, Chen emphasized that the consumer landscape is still "choppy," with inflation affecting spending behavior. He highlighted the importance of value in driving success in retail, especially in the off-price market, which continues to gain share. Investors are seeing a clear divide between retail "winners and losers," with value-driven trends leading the way.
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