Archived Lets talk about the new Red Card App!

[Retail Girl]

No...just your name (and probably first three letters of your last name) and store number.

 

[pellinore]

Ok, from what I read, we only have to give our name and store number. This is what I read in October's front end news.

October's FRONT END NEWS? Evidently, if we got it, the GSTLs never read it. Maybe tomorrow (Friday) I will be able to locate a copy of October's "NEWS".....which, based on what I'm hearing here is that the "NEWS" isn't new, but OLD!

 

[Retail Girl]

Well, I only got a hold of it because of my GS training. So ask if they have a copy of it, since there are a lot of return policies to note, they might have a copy saved in a drawer somewhere.

 

[pellinore]

OK, thanks for the heads up!

 

[mxrbook]

I can't speak for the on-line app as I haven't seen it yet, but we have a debit app which the guest can take with, complete at home and mail with a voided check to Target Corp. There is a space for TM name, number and store number which we are to fill out prior to giving it to the guest so that we can get credit on our conversion scores. No, I don't do it. I'd rather have red conversion than give my employee number and name to those wackos. I mean, guests.

 

[commiecorvus]

Our GS-ETL announced it at a huddle about two weeks ago.
Gave all the details (except they didn't know how the store would get credit for the online registration).

 

[pellinore]

Looked for the October Front End News today.....no one has any clue where they are. Our GE-LOD quit about two weeks ago. She probably got the information in her mailbox and then the papers never got distributed.

Looked on Workbench......couldn't find the October 2012 Front End News there. So it looks like our store will remain uninformed until later on.

BTW, guests have always been able to get a paper application to send in for the RC. Our store has had these brochures out forever.
Guests are able to print the application from Target.com for awhile, too.

So far, I'm seeing the only change as being RC holders as getting 120 days to return an item to the store.....oh, and getting a gift card refund off of Target.com.

 

[CIHYFS]

The new checkless application process has the guest start the application at the store and then instead of printing the temporary slip at the end, it prints a paper with a phone number and a website for them to finish the app at home with their check. The downfall is that they do NOT save the 5% when the start the app, but you and the store get the credit this way. There is a rumor that once they complete the application process they are mailed a gift card with the 5% back from their purchase. Not sure if that is true or not. Also, when they pay with a debit card from THEIR bank, it now will prompt for the Target Debit Card instead of the Target Credit Card.

 

[Retail Girl]

I'd want to know if that rumor is true or not. If it is, great! If it isn't, that loses a huge selling point for the "save 5% today." Also, at my store, the cashiers are allowed to give the guest 5% if they aren't immediately approved, so I wonder how that will work for us.

 

[Hardlinesmaster]

hot off the press:
http://www.google.com/hostednews/ap...0IHsXA?docId=11de8ad4ffb04df2bf762c5b65c4ce3a

 

[HardlinesFour]

hot off the press:
http://www.google.com/hostednews/ap...0IHsXA?docId=11de8ad4ffb04df2bf762c5b65c4ce3a

Wow..

 

[redeye58]

If that 5% went away, so would my incentive for using the card.
I'd go cash from then on.

 

[Retail Girl]

It says that the 5% isn't going away...if it does, then Redcard applications would tank to nearly zero.

 

[commiecorvus]

The discounter, based in Minneapolis, said the sale price is equal to the gross value of the outstanding receivables at the time of closing.
Target's portfolio currently has a gross value of about $5.9 billion.

So does that mean Spot just broke even?
And is any of that money going to go into the stores?
Say maybe into payroll?

 

[kingpin003]

So does that mean Spot just broke even?
And is any of that money going to go into the stores?
Say maybe into payroll?

Target says it plans to use 90 percent of the net proceeds to reduce the company's debt; it aims to use the remaining funds to repurchase its stock over time.

🙁

 

[commiecorvus]

Don't know how I missed that.
Thanks kingpin.
Guess I just had my hopes up.

 

[Hardlinesmaster]

Same here, king.

 

[redeye58]

Into payroll?
The day we see a sum like that going into payroll will be the day Gregg shows up on "Good Morning, America" in a black leather bustier, red stilettos with make-up & his arm around a cabana boy named Carlos.
Meaning "never".

 

[Retail Girl]

Repurchasing its stock? What does it mean when a company does that?

 

[mrknownothing]

Repurchasing its stock? What does it mean when a company does that?

It means that the company buys shares of its stock back from the shareholders.

 

[redeye58]

They can have mine, thankyewverymuch.

 

[commiecorvus]

It means that the company buys shares of its stock back from the shareholders.

I think she means why would the company want to do that.
They think the stock is under-valued.
This does three things.
First it props up the price by increasing the buy side demand.
Second, it provides them the opportunity to enjoy a gain in the exchange when they put those share back into the market at a higher price.
It also helps increase the Earning Per Share EPS, when earnings come out they put them into a per share basis.
When companies buy shares they are no longer considered outstanding, so the same amount of money is divided among less shares.
Third, it does jack for the employees.

 

[Retail Girl]

Thanks, Commi! That's exactly what I was looking for!

 

[mrknownothing]

Thanks, Commi! That's exactly what I was looking for!

My bad. Commie knows more about this kind of stuff anyways. 😀

 

[redeye58]

Companies sometimes buy back to leverage against hostile shareholders (read: Will Ackerman) or to revert from public to private holdings. Rather rare, tho.