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...More important, Target's profits last year dropped a stunning 22.3%, to $2.2 billion. That figure includes a 40.7% earnings collapse in the fourth quarter. Walmart's 2008 bottom line rose 5.9%, to $13.5 billion. Now Target is getting trounced...
...drowning in mortgage and other credit-card debt, they often ignore retail-card obligations. Rising defaults and delinquencies have dragged earnings. In 2008 credit-card profits dropped 80.5%, to $155 million, and the company incurred a $135 million pre-tax loss on its credit segment in the fourth quarter. "The company did great with its credit business when the economy was up, but now that it's down, carrying your own credit is devastating," says Davidowitz. At least Target can be grateful it made one smart move: in May, the company sold 47% of its receivables to JPMorgan Chase...
...increase collections. On the product side, the company knows it must offer more essentials. "We continue to invest in our food offering in recognition of its importance in driving greater frequency, increasing guest loyalty and making Target a preferred shopping destination," CEO Gregg Steinhafel said during Target's fourth-quarter earnings call. For example, last year the company opened its first distribution center for perishable goods like fruits, vegetables and meats in Lake City, Fla. Target is slated to open another distribution center this year, in Cedar Falls, Iowa. "That's a major step," says Davidowitz. "Controlling your own distribution...
...online tutoring, a relatively new addition to the $4 billion test prep industry. The Princeton Review's cheapest online program - which includes three weeks of access to practice tests and online office hours with a certified instructor - will set you back a mere $85, less than a quarter of what the company charges for a single hour with a flesh-and-blood tutor; enrollment in its online offerings grew 15% in 2008. Over at Academic Approach, online programs are also enjoying double-digit growth. They're more expensive - $499.99 for 45 instructional videos and over 375 lessons - but still...
...When the couple's $36 million in assets were divvied up last year after more than a quarter century of marriage, 50-year-old Myerson got 57% of the loot. Ingrid Myerson walked away with the rest. So in return for paying his ex-wife $13.1 million in cash, and handing over a $2.1 million beach house in South Africa, Brian Myerson kept hold of stock in Principle Capital Holdings (PCH), his investment company, worth more than $20.1 million at the time. (See pictures of things money...