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MarketScreener Homepage  >  Equities  >  Nyse  >  Target Corporation    TGT

TARGET CORPORATION

(TGT)
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Real-time Quote. Real-time Cboe BZX - 08/22 04:44:33 pm
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Target : Same-day deliveries, store revamps drive Target's strong results

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05/22/2019 | 10:49am EDT
A Target logo is seen during the going-out-of-business sale at Target Canada in Toronto

(Reuters) - Target Corp beat first-quarter estimates for same-store sales and profit on Wednesday, as the retailer's strategy to invest more in its delivery services and revamp stores drew in more shoppers, sending its shares up more than 9%.

With customers increasingly expecting faster deliveries, Target has been ramping up its services for the last couple of years in its effort to better compete with online giant Amazon.com Inc and brick-and-mortar rival Walmart Inc.

Target's services such as Shipt, order pickup and drive-up allow shoppers to pull into a store and pick-up their orders in minutes or get them delivered to their homes within hours of placing them through the mobile app or website.

These delivery options drove more than 25% of the better-than-expected 4.8% growth in same-store sales and over half of its 42% growth in comparable digital sales in the quarter.


For interactive graphic, click here:https://tmsnrt.rs/2X4SEOg

"Target hit the bullseye in Q1, with every meaningful measure demonstrating the soundness of its revamped strategy and its successful execution," Moody's analyst Charlie O'Shea said.

The retailer has also been spending billions of dollars to remodel stores and use them as hubs to serve online orders, helping the company deliver products quickly.

Target is remodeling 300 stores a year and aims to cover 1,000 stores by the end of next year as it looks to grow its online sales by more than $1 billion in 2019.

"Our ability to offer the same-day services, which deliver high level of satisfaction, is a result of our strategy to put stores at the center of fulfillment," Chief Operating Officer John Mulligan said on a post earnings call.

Store traffic grew 4.3% in the quarter, helping the company forecast second-quarter adjusted profit largely above expectations.

Target said it has factored in the recent hike in tariff on Chinese goods to 25% in its full-year forecast, which it kept unchanged.

"Our team continues to monitor trade negotiations and develop contingency plans to help mitigate the impact of tariffs on our business," Chief Executive Officer Brian Cornell said.

The company's net earnings rose 10.8% to $795 million, or $1.53 per share. Analysts on average were expecting it to earn $1.43 per share, according to IBES data from Refinitiv.

Total revenue rose 5% to $17.63 billion, beating expectations of $17.52 billion.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Arun Koyyur)

By Aishwarya Venugopal

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Financials (USD)
Sales 2020 78 340 M
EBIT 2020 4 556 M
Net income 2020 3 142 M
Debt 2020 10 606 M
Yield 2020 2,50%
P/E ratio 2020 16,9x
P/E ratio 2021 15,9x
EV / Sales2020 0,81x
EV / Sales2021 0,79x
Capitalization 52 668 M
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Technical analysis trends TARGET CORPORATION
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 108,57  $
Last Close Price 103,00  $
Spread / Highest target 21,4%
Spread / Average Target 5,40%
Spread / Lowest Target -26,2%
EPS Revisions
Managers
NameTitle
Brian C. Cornell Chairman & Chief Executive Officer
John J. Mulligan Chief Operating Officer & Executive Vice President
Catherine R. Smith Chief Financial Officer & Executive Vice President
Michael E. McNamara Chief Information Officer & Executive VP
Rich Agostino Chief Information Security Officer & Senior VP
Sector and Competitors
1st jan.Capitalization (M$)
TARGET CORPORATION55.85%52 668