Big Box Stocks Get Rocked

A COVID Booster Shot for Kids | Also on KiplingerAlso on Kiplinger | Created for {EMAIL} | [Web Version]( May 18, 2022 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [Twitter]( [Instagram ]( [Youtube]( [SIGN UP]( ⋅ [WEBSITE]( [] What's in the Works [] [Big Box Stocks Get Rocked]( Big pain for big-box stores: [As we mentioned yesterday evening](, retail data for April might have been good, but that hasn’t translated into boffo earnings reports for retailers across the board – and Target ([TGT]() is the latest example. The big-box retailer managed to beat on quarterly sales expectations ($25.2 billion vs. $24.5 billion est.) but delivered a wide profit miss ($2.19 per share vs. $3.07 est.) as supply-chain woes weighed heavily on operations. In fact, Target believes it could shoulder up to an extra $1 billion in inflation-related costs this year, causing it to issue a disappointing full-year outlook for operating profits. TGT shares were off by 24% this morning, which Michael Batnick, Director of Research at Ritholtz Wealth Management, said “would be the largest daily decline since Black Monday, October 19, 1987,” if that’s where the stock closes Wednesday trade. This follows Tuesday’s double-digit decline for Walmart ([WMT](), bred by its own worrisome quarterly report. While revenues easily topped expectations and Walmart actually upped its full-year sales outlook, it whiffed on profit estimates and reduced its income forecast. David Keller, chief market strategist at [StockCharts.com](, suggests investors might expect similar woes to pop up among other retailers this quarter. “Walmart missed their EPS target for Q1, but even more concerning is that they confirmed all the challenges that retailers are facing given headwinds to consumer activity,” he says. “Rising costs and supply chain challenges suggest concern is warranted for other retailers reporting in the coming weeks.” [Learn the most important part of a guarantee.]( For 177 years, New York Life's reputation of strength has garnered it the highest financial ratings.¹ Our goal is to empower financial professionals to give clients more retirement confidence. We offer a range of solutions to meet the full breadth of retirement savers' needs. [READ MORE]( ADVERTISEMENT [] Latest [] The Food and Drug Administration has approved a COVID-19 booster shot of the Pfizer ([PFE]()/BioNTech ([BNTX]() vaccine for children ages five to 11. Previously, kids in that range were only eligible for the initial two shots of the Pfizer vaccine. The booster should be administered at least five months after the primary shots, according to the FDA. There were no serious adverse effects to the booster shot in the study, which included 401 children, other than the usual types: Fatigue, headache, muscle or joint pain, and fever. [Learn the most important part of a guarantee.]( For 177 years, New York Life's reputation of strength has garnered it the highest financial ratings.¹ Our goal is to empower financial professionals to give clients more retirement confidence. We offer a range of solutions to meet the full breadth of retirement savers' needs. 1. New York Life has received the highest financial strength ratings currently awarded to any U.S. life insurer by Standard & Poor's (AA+); A.M. Best (A++); Moody's (Aaa); and Fitch (AAA). Source: Individual Third-Party Ratings Reports as of 9/30/2021 [READ MORE]( ADVERTISEMENT [] Also on Kiplinger [] - [8 Risky Jobs That Pay Big Bucks]( - [Preparing Your Family-Owned Business for Sale?]( - [10 Substantial Stock Splits to Put on Your Radar]( - [12 States That Tax Social Security Benefits]( - [Build a Better Portfolio for 2022 -- Sign Up for Kiplinger's Free Investing E-Newsletters]( ABOUT KIPLINGER When we write about money, we get it right. So the decisions you make with your dollars are also right. Since 1920, Kiplinger has earned a reputation as a trusted provider of unbiased financial advice, objective business and economic forecasts, and practical help to millions of business professionals, investors, and individuals seeking to make more profitable decisions with their money. Our [flagship publications]( include Kiplinger’s Personal Finance magazine, The Kiplinger Letter, The Kiplinger Tax Letter, Kiplinger’s Retirement Report, and Kiplinger’s Investing for Income. All are regarded as the leading publications in their respective fields. Every day, millions of readers rely on our [free e-newsletters]( and [podcasts]( for help on everything from getting the best rate on a mortgage or car loan, to managing their businesses in an uncertain world, avoiding an IRS audit, building wealth for a secure retirement, or investing wisely in any kind of market. Now it’s your turn to reap all the rewards Kiplinger has to offer. Visit [Kiplinger.com](, your gateway to all of the above and much more. Check in any time for our latest advice on how to make more money, and keep more of the money you make. Stay right on the money, with Kiplinger. [Sign Up]( | [Print Publications]( | [Unsubscribe]( [Privacy Policy]( | [Cookies Policy]( | [Terms and Conditions]( CONTACT US: [FEEDBACK](concat('mailto:',$brief_feedback_email)) | [ADVERTISE]( Future US LLC © 1100 13th St. NW, Suite 1000, Washington, DC 20005