Stew Leonard’s CEO Stew Leonard Jr. joins ‘Cavuto: Coast to Coast’ to discuss the retail earnings report and its mixed reading for average consumers.
Target is aiming to draw in Swifties over the upcoming holiday shopping weekend with an exclusive book, vinyl and CD from Taylor Swift.
The retailer said it will exclusively sell Swift’s “The Eras Tour Book” at its physical stores on Black Friday and then offer it through its app and website the following day. It also plans to make vinyl and CD versions of “The Tortured Poets Department: The Anthology” available following the same schedule.
Swift’s book is expected to give fans a “behind-the-scenes look at the making and performance of Taylor Swift | The Eras Tour, including never-before-seen photos and personal reflections written” by the singer, Target said earlier in the month.
Taylor Swift holding copies of “The Eras Tour Book” and “The Tortured Poets Department: The Anthology” (Target Corp.)
Meanwhile, the vinyls and CDs will mark the first time “The Tortured Poets Department: The Anthology” and its 35 tracks have been offered in a physical format, the retailer said.
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The 256-page book will carry a $39.99 price tag. The vinyl will run at $59.99, while the CD will cost $17.99.
When reached for comment, the retailer said it was not able to share specifics on expected volumes.
The listings for the three products on Target’s website said they are “expected to sell out quickly,” a potential boon for the retailer during the holiday shopping period.
Target highlighted the exclusive Swift releases while the retailer held its third-quarter earnings call last week.
“While these exclusives are sure to be top on Swifties’ wish list, we have exciting gifting options for everyone in the family, all at unbeatable prices,” Target Chief Commercial Officer Rick Gomez said.
Shoppers wait in line for checkout at a Target store on Black Friday in Chicago, Illinois, on Nov. 25, 2022. (Christopher Dilts/Bloomberg via Getty Images / Getty Images)
Teaming up with Swift on the products “will be a traffic driver for our business during an important holiday period,” CEO Brian Cornell said.
In the third quarter, Target generated $25.67 billion in total revenue. Its adjusted earnings per share, meanwhile, came in at $1.85. Both were below what Wall Street analysts had expected.
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For the final quarter of the year, the retailer forecasted “approximately flat comparable sales and GAAP and Adjusted EPS of $1.85 to $2.45.”
The Wall Street Journal earlier reported on the Target-exclusive Swift releases.
The launch of Swift’s “The Eras Tour Book” and “The Tortured Poets Department: The Anthology” physical albums at Target will come as the musician is nearing the end of the highly successful Eras Tour.
Taylor Swift performs onstage during “Taylor Swift | The Eras Tour” at Allianz Parque on Nov. 24, 2023, in Sao Paulo, Brazil. (Buda Mendes/TAS23/Getty Images for TAS Rights Management / Getty Images)
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The Eras tour, which began in mid-March of last year, will close out with Swift performing a trio of shows in Vancouver in early December.
Pollstar projected late last year that Swift’s tour could wind up grossing $2.165 billion.
