Target

Target bets on same-day delivery with new sortation hubs in Chicago, Denver

Target storefront

Target (NYSE: TGT) on Monday announced the expansion of its sortation network by 50% with three new hubs, two in Chicago and one in Denver. The facilities are scheduled to open this year, bringing Target’s sortation center count up to nine.

In the pursuit of same-day shipping, the United States’ largest retailers have been lining up to buy transportation assets at an unprecedented rate. But the same-day delivery machine runs on much more than trucks and vans. While that capacity is needed for...

https://www.freightwaves.com/news/target-bets-on-same-day-delivery-with-new-sortation-hubs-in-chicago-denver

Target’s Shipt partners with Big Lots on same-day delivery

Shipt shopper

Amazon and Walmart have turned delivery from a service into a product, offering shipping solutions such as Fulfillment by Amazon and Walmart GoLocal to other brands. But while those two continue to lead the way, another major U.S. retailer is on their heels.

Shipt, the same-day shopping and delivery subsidiary of Target (NYSE: TGT), on Thursday announced a partnership with home goods retailer Big Lots. Target will use Shipt to support same-day delivery from 1,000 Big Lots stores, adding to...

https://www.freightwaves.com/news/targets-shipt-partners-with-big-lots-on-same-day-delivery

Blockbuster container shipping results collide with sinking sentiment

container line shipping Zim

Zim, the world’s tenth largest container shipping line, posted the best quarterly results in its history on Wednesday. It hiked its full-year guidance and now predicts 2022 earnings will be around 20% higher than in 2021. And yet, shares of Zim — by far the largest U.S.-listed shipping company by market cap — fell as much as 8% in the hours after its earnings release.

The record results from Zim (NYSE: ZIM) came on the same day as a 25% plunge in shares of Target (NYSE: TGT) and a 1,165-point...

https://www.freightwaves.com/news/blockbuster-shipping-line-results-collide-with-sinking-sentiment

Target earnings fall short as supply chain struggles persist

Target store earnings report 2022

The conventional wisdom among Wall Street analysts was that shoppers would return to stores and drive bounce-back quarters for big box retailers in Q1 2022. But amid continuing supply chain struggles, only the first half of that assumption has held true.

Target Corp. (NYSE: TGT) reported Q1 2022 earnings before the bell Wednesday that revealed strong sales growth but dwindling profits. The retailer missed sharply on earnings per share, much like competitor Walmart (NYSE: WMT), which reported...

https://www.freightwaves.com/news/target-earnings-fall-short-as-supply-chain-struggles-persist

The state of last mile amid slowing e-commerce demand

White delivery van on highway

The challenges of the past few years have strained last-mile delivery networks. And just as they have started maturing with new entrants and efficiencies unlocked, e-commerce started slowing from its pandemic roll. Where exactly it stops, no one is quite sure, but last-mile providers don’t have time to wait. They must service the now and build for the future.

“Last-mile capacity still feels tight,” Jay Sackos, vice president of business development for Dolly, told Modern Shipper. Dolly...

https://www.freightwaves.com/news/the-state-of-last-mile-amid-slowing-e-commerce-demand

No holiday for delivery firms as fuel prices remain elevated

Fuel prices hurting delivery firms

As fuel prices have surged in the U.S., last-mile delivery companies have been put in a precarious position. Some have tried to implement surcharges to cover the added costs, while others already had surcharges in place for this scenario. But with fuel prices doubling in some areas in less than two weeks’ time, even surcharges will take time to recoup some of that increase.

In the last week, Uber (NYSE: UBER) and Lyft (NASDAQ: LYFT) have announced surcharges, and DoorDash (NYSE: DASH) has...

https://www.freightwaves.com/news/no-holiday-for-delivery-firms-as-fuel-prices-remain-elevated

Target planning logistics overhaul for 2022

Target said it plans to spend $5 billion to expand its logistics operation in 2022

After reporting strong fourth-quarter and fiscal year 2021 earnings earlier this week, one of America’s largest retailers is setting its sights on delivery to grow even more.

Target Corp. (NYSE: TGT) has long been a staple of U.S. physical and digital retail, but up until last year, it hadn’t touched its logistics network in over a decade. The big box store added a pair of regional distribution centers last summer, but that was just an appetizer for this week’s main course.

Target announced...

https://www.freightwaves.com/news/target-planning-logistics-overhaul-for-2022

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