In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
Target already lost a lot of customer loyalty with the data breach. If the pharmacy sale gets botched, the results could be worse, particularly if CVS provides a lower level of customer service or major snafus such as CVS not being able to process Target prescriptions result.
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f something as shoddy, as poorly designed and as inefficient as Obamacare can have such benefits, just imagine what would result from a real national healthcare program like the expansion of Medicare to cover all Americans.
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My prediction is that CVS’s revenue will continue to grow but none of its competitors will follow its lead and go tobacco free. Instead, CVS will be something of an anomaly, which will buy it a lot of good publicity and support from the healthcare industry.
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Yes it is a bit of a dark horse, but Rite Aid does meet some of Warren Buffett’s value criteria: it is a good company that has been going through a rough patch yet still has the potential to generate a lot of cash. It also has an easy-to-understand business model in a decidedly unglamorous industry—selling shaving cream and prescriptions. Rite Aid also meets another one of Uncle Warren’s classic criteria: it is a company that an idiot could run if necessary.
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The risk Target is taking is not that great, and it is giving its customers a stronger incentive to buy its more profitable house brands. Target’s return policy is a shrewd move because the potential gains outweigh the risks.
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Hiltzik and The Baffler’s Helaine Olen pointed out that some of those conditions no longer exist. Today’s would-be Millionaire Next Door would likely graduate from college with a mountain of student loan debt, leaving him with little extra money to start a business and a strong incentive to stay in the cubicle farms. Low inflation, a booming stock market, and high real estate values also make it difficult for working stiffs to accumulate income earning assets.
Read MoreThat makes Amazon one of the five largest retailers in America, larger than Target (NYSE: TGT), which reported a TTM revenue of $73.7 billion on Oct. 31, 2014; Walgreens Boots Alliance (NASDAQ: WBA), which reported a TTM revenue of $77.62 billion on Nov. 30, 2014; and Home Depot (NYSE: HD), which reported a TTM revenue of $81.71 billion on Oct. 31, 2014.
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Walmart and Target certainly have their work cut out for them if they want to maintain their positions in the retail market. Safeway will have even more work to do if it wants to become a credible rival to Kroger.
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The oil industry may have just handed discount and dollar stores a huge Christmas gift. Gasoline prices in parts of Missouri are now below $2 according to Springfield News-Leader.
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The bottom line is that the economy is not working for average Americans. Incomes are falling and destroying America’s economic health. Inequality is growing too as technology lets the affluent take advantage of opportunities such as the booming stock market while the average family has a hard time buying groceries.
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