Big Things Are Coming for Target and Kohls – Financial News Summary for Thursday, February 25, 2021

Sephora is Expanding Their Options
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Today marked a bad day for the New York Stock Exchange, with all three major markets posting significant drops. The Dow Jones closed down 1.75% at 31,402.01. The NASDAQ closed down 3.52% at 13,119.43 and the S&P 500 closed down 2.45% at 3,829.34. STOXX Europe also had a bad day, though not by as much, dropping 0.36% to close at 411.73.

Sephora is looking to branch out a bit more and get out of the malls. Or at least, stop being only connected to malls. The company is set to open 60 new stores, with 85% of them not in malls, and none of them located inside other stores. Not only that but they will be adding 200 new mini stores inside of Kohls stores. All of this means that they will have a huge level of expansion, the largest in their history. And all of this while the pandemic still continues to wreak havoc on the beauty industry as a whole.

“We chose these locations based on a number of factors, with a focus on growing our presence in suburban and off-mall locations, ultimately making the Sephora experience more accessible to even more beauty shoppers across the country,” Sephora said in an email.

 

 

Apple is getting ready for a new start with mini stores set to show up in Target stores. At this point only 17 stores are set to get the ‘enhanced Apple experience’ with a wider array of Apple products. But it looks like Target team members will be the ones working in these shops, after receiving specialized training from the company. Apple stores are set to start in Texas and Florida, with other stores joining up throughout the next several years.

 

“Apple products are popular with Target’s guests, and this new, dedicated shopping experience offers enhanced service and expanded offerings, building on our strength as a go-to destination for electronics,” said Christina Hennington, executive vice president and chief growth officer at Target, in a press release.

 

Oil prices fell 0.42% to close at $63.26 per barrel with West Texas Intermediate. Gold fell by 1.78% to close at $1,771.02 per ounce. On the other hand the treasury yield jumped dramatically, with the 10 year yield closing at 1.54 and the 30 year yield closing at 2.33. This after yesterdays numbers of 1.38 and 2.24 respectively.

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