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Takeaway: Ahead of Target CEO Gregg Steinhafel's ouster, Hedgeye retail analyst Brian McGough explained why he doesn't like shares of beleaguered TGT.

FLASHBACK: McGough 5 Slides Explaining Why We're Short Target | $TGT - TARGET cartoon

Full Statement from Target: 

  • “'Today we are announcing that, after extensive discussions, the board and Gregg Steinhafel have decided that now is the right time for new leadership at Target. Effective immediately, gregg [sic] will step down from his positions as Chairman of the Target board of directors, president and CEO.'"

Hedgeye retail analyst Brian McGough recently explained why we are short Target.

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