Thanks for Visiting!

Register for free to get the full story.

Sign Up
Already have a Placer.ai account? Log In

Placer Bytes: Unstoppable Target, Macy's Bull Case and the Albertsons IPO

by 
Ethan Chernofsky
 on 
June 29, 2020
Placer Bytes: Unstoppable Target, Macy's Bull Case and the Albertsons IPO

In this Placer Bytes, we dive into the endlessly impressive Target, take a look at Albertsons following its IPO announcement, and break down the optimist’s case for Macy’s.

Target Cannot Be Stopped

Yes, it was considered essential retail during the pandemic, but Target was still hit very hard. The year kicked off incredibly well, but visits saw a significant downturn, especially compared to superstore competitor Walmart. While Walmart’s traffic never dipped below 20.0%, Target saw visits drop 32.2% compared to the same month in 2019. 

Although its offline hit from the pandemic may have been worse, the pace of Target’s return looks to be far stronger. By May, Nationwide visits for Target had returned to a decline of just 1.7%, and the pace of return is picking up.

Looking at weekly visits since the start of May, Target has yet to see a year-over-year visit decline of more than 6.0%, and there have even been two weeks with year-over-year growth. This is exceptional performance considering many states were still imposing significant restrictions, and Target does have a significant number of stores in harder-hit states and

cities. Even more impressively, the rate of return actually looks to be increasing with the 15th, 16th, and 17th of June showing year-over-year growth of 4.7%, 7.3%, and 6.9% respectively. So, while May looks to have marked the beginning of Target’s recovery, June could put the rapid return into full focus.

Albertsons Excellent Timing

With Albertsons announcing its IPO plans, there’s an increased focus on what the brand’s performance has truly been, and the timing seemingly could not be better. The pandemic put traditional grocers on a pedestal, and this just poured more fuel onto an ever-strengthening fire for the chain. For example, while annual visits in 2019 were up 0.6% year over year, the first five months of 2020 have driven an overall increase of 3.1%. All this while taking into account the drops associated with the pandemic.

Albertsons kicked off 2020 with strong growth in January and February, before seeing a massive March spike, and major April downturn. Yet, May visits, even amid the ongoing effects of the pandemic, were already back to early 2020 year-over-year growth numbers.

And, here too, the pace is not slowing down. Analyzing weekly visits year over year shows only one week with a decline since the start of May, while visits the week of June 1st were up nearly 8%. Should this pace continue, the brand could be exceptionally well-positioned to carry its newfound strength deep into 2020 and beyond.

Macy’s - An Optimist’s View

Predictions of the death of the department store have only picked up pace lately, with the challenges facing malls and certain brands taking center stage. However, there is another perspective on the matter, and Macy’s is an excellent example. While visits for the brand are down, they are moving quickly towards normal with the week of June 8th showing a drop of 58.9%, a massive improvement on just a few weeks prior when visits were down 94.3% year over year.

While Macy’s is closing large numbers of stores, it has proven to be strategic in the process, identifying locations that can still be effectively served by other branches. And while not all new concepts have hit home, the retailer has shown a willingness to roll out ideas and innovate. Additionally, the removal of key competitors could create a strong opening for short-term growth. This combination of a more optimized retail footprint, an aggressive approach to innovation, and the opportunities enabled by struggling competitors could unlock new levels of growth for the brand.

Will Target’s dominance continue? Can Albertsons maintain its strength throughout 2020? Will Macy’s surprise? Visit Placer.ai to find out.

Get 3 brand & industry
breakdowns every week

Subscribe to the newsletter

Great! Prepare your inbox for data-driven insights...
Oops! Something went wrong while submitting the form.

Get a Demo

Please enter your first name
Please enter your last name
Please provide a valid email
Please enter your email
Please enter company name

Thanks for reaching out!

One of our experts will be in touch soon

Try Placer.ai Free
Oops! Something went wrong while submitting the form.
What’s in Store for Self-Storage?
Nike + lululemon Update: Strong Performance Amid Expansion Plans
Many Ways to Win: Midwest Grocery Deep Dive
Retail, Reinvented: The Rise of the Pop-Up Shop
Navigating a New Normal in Business Travel & Commutes
Placer.ai Office Index: February 2023 Recap
Retail Categories Staying Strong in Volatile Environment
Ulta Beauty: Poised for Success into 2023
Placer.ai Mall Index February 2023: Reasons for Continued Optimism
Catching Up With DICK’s & Hibbett
The Miami-Dade Arena: An Advertising Slam Dunk
Car Washes Revving Up Visits
Tuesday Morning and Sunrises in Home Furnishing
Dining & Valentine’s Day Recap
2023: The Year of the Discount Store
Aldi’s Success Highlights Growing Demand for Value Groceries
5 Retail & Service Categories Holding onto Pandemic Gains in 2023
Visitor Insights from Super Bowl 2023
2023 First Look: Home Improvement Update
How Are Target, Walmart, and Wholesale Clubs Faring in 2023?
Department Store Deep-Dive: Nordstrom
Off-Price: Taking Off in Uncertain Times
Checking in On Middle-Class Hubs
Who Attends the Super Bowl?
Placer.ai Office Index: January 2023 Recap
Focusing On Fitness: Q4 and January Recap
Placer.ai Mall Index: January 2023 – Returning Mall Normalcy?
Location Intelligence Insights Into Concert Attendance
Winning Dining Strategies for 2023
In-N-Out Burger: What to Expect as the Brand Moves East
Location Intelligence Breakdown: Coffee Caps-Off 2022
Digitally Native Brands Lean Into Brick & Mortar
Washington, D.C. Population Changes & Migration Trends
A Location Intelligence Perspective on Macy’s Rightsizing
Amazon-Powered Shopping: The Future of Brick-and-Mortar Grocery?
Cold Weather, Hot Visits: Diving into Winter Resorts
Wawa and 7-Eleven: Leaning Into the “Slurpee Effect”
2022 and Beyond: Catching Up With McDonald’s & Chipotle
Let’s Have Some Fun! Going Out Is In
Placer.ai’s Q4 2022 Quarterly Index
Placer.ai Adds Industry Executives to Leadership Team To Drive Company's Next Phase of Growth
5 Emerging Retail Formats: 2023’s Brick-and-Mortar Evolution
Grocery Update: Zooming in on the Lone Star State
2022 Office Recap: The Year of the TGIF Work Week
What Lies Ahead for Brick-and-Mortar Luxury in 2023
Placer.ai Mall Indexes: December 2022 Recap
Looking Back on 2022’s Holiday Shopping Season
Post-Pandemic Migration Trends in New York
Top Retailers for 2023
The Live Sports Advertising Opportunity
Domestic Migration to the Mountain States: Small Shifts with Big Implications
New Year, New Food: 5 Dining Trends For 2023
Announcing Placer.ai’s COVID RECOVERY DASHBOARD
This is Why Shop-in-Shops Are Everywhere
Super Saturday 2022 Recap
The San Francisco Shift
Grocery Year-End Update: Publix in the Spotlight
Three Ways Retailers Can Think Small to Increase Store Impact
Offline Beauty Is on an Upswing
The Evolving Migration Patterns of New York’s Florida Snowbirds
Placer.ai Office Index: November 2022 Recap
How Viral Social Media Trends Can Drive Offline Engagement
Are You Ready for Some Football? Experiential Marketing Shows Promise
Mall and Shopping Center Trends For 2023
Retail Corridors and Indoor Malls: A Holiday Head-to-Head
Placer Bytes: Nike, lululemon, and GameStop Update
Placer.ai Mall Indexes: November 2022 Update
Black Friday 2022: Consumers Hear the Call
Digitally Native Brands: Taking Off, Offline
Discount and Dollar Stores Leading the Pack
Turkey Wednesday 2022
Retail’s Evolving Holiday Season
Placer Bytes: Starbucks and Department Stores Ahead of Black Friday
Ulta: A Force to be Reckoned With
College Towns Drive Dining Growth
Foot Traffic Trends Reveal Consumers Ready for Holiday Cheer
How Retailers Can Win Big By Going Small
How Are Consumers Feeling Ahead of Black Friday 2022?
Off-Price, Hibbett, and Dick’s Pre-Holiday Check-in
Ho, Ho, Wholesale: Costco, Sam’s Club, and BJ’s
October 2022’s Retail Rebound
Target and Walmart Ahead of the Holidays
Home Improvement: Leave it to the Pros
Despite Inflation, Holiday Season is Off to a Good Start
Placer.ai Office Index: October 2022 Recap
Placer.ai Mall Indexes- October 2022 Update
Americans Double Down on Fitness
The State of Grocery
CVS and Walgreens: The Wave Continues
Coffee Chains Brewing Up Visits
Placer.ai Spotlight: Pizza Players
What Drove COVID-Era Urban Migration Trends?
Kroger and Albertsons: A Merging of Strengths
Texas Roadhouse Innovations Dishing Up Success
Holidays on the Horizon: Mid-Range and Luxury Shopping
McDonald's and Chipotle's Post-Pandemic Success
Announcing Placer.ai’s Q3 2022 Quarterly Index
5 Hot Restaurant Brands for 2023
Target Finds a Winning Deals Day Formula
Five Trends to Watch for 2022’s Holiday Shopping Season