Lou Whiteman

It's not nothing.

They're up 4% on a day that's just miserable.

That's a monster move on a normal day.

But yeah, revenue was down, comp sales down.

Basically, the cheer is, it could have been worse and it wasn't.

Look, I think that Matt's comparison, I don't think that was meant as a prediction, or maybe it was.

I'm not ready to go there yet.

But I think it is good for investors to have in mind, because this is an industry where your legacy means nothing.

I mean, step one is to get out of the spiral.

Step two is to reestablish yourself as a destination.

The Target era is going to be hard to get back.

Even Best Buy.

Best Buy, if I need electronics, I go to Best Buy.

If I need athletics, I go to Dick's.

Target is just kind of, well, we got everything.

That's not really a differentiator.

I think that that's the really hard thing for management and for investors here.

If Target is to thrive, they have to figure out the answer to that question.

If not, it's going to be, if not Kmart, just treading water and very small gains.

As an investor, I'm not going to get excited about that.