Analyst prediction: Amazon will buy Target this year
Another day and another blockbuster prediction about business in 2018. Influential analyst Gene Munster says Amazon will buy Target this year. He says Amazon is trying to make a bigger move into physical stores and that buying Target would allow it to take on Walmart.
Americans racked up an average of $1,054 of debt this holiday season, according to a recent report. MagnifyMoney's annual post-holiday debt survey says nearly half, or 46 percent, of Americans said they plan to pay off their credit cards within a month after the holidays. Another 16 percent will need one to three months, that survey found. Consumer credit card debt now stands at $808 billion, according to recent data from the Federal Reserve Bank of New York.
Meanwhile, a tsunami of store closings is expected this year. Cushman and Wakefield says more than 12,000 stores are expected to close this year, versus 9,000 last year. Among the companies the firm says are most likely to file for bankruptcy within the next year are Sears, Bon-Ton Stores, Bebe Stores, Destination Maternity, and Stein Mart.
Weight Watchers said it has signed DJ Khaled to be its new social-media ambassador. The hip-hop impresario will go public with his struggles to slim down by broadcasting them to his millions of followers on Facebook, Instagram, Twitter and Snapchat.