Target is Hit Again – The Retail Industry’s Slow-Mo Train Wreck

Retailer Target is now officially a slow-mo train wreck.  A knife has been taken to the estimated value of the discount department store’s goodwill. In the space of two years, it has fallen from around $2 billion to around zero as the result of mounting losses and strategic misfires by management.
The decision to render the value of Target’s balance sheet goodwill virtually worthless follows the scandal in April, when staff had been discovered pumping up the chain’s earnings by almost 40 per cent by colluding with suppliers to book extra rebates in return for promises of higher prices in the future. Sydney Morning Herald – Read more…