Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Target Corporation    TGT

TARGET CORPORATION

(TGT)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Target's Earnings and Sales Exceed Expectations

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/21/2019 | 07:16am EDT

By Kimberly Chin

Target Corp. said sales and profit rose in the second quarter, extending the retailer's growth streak as investments in its stores, merchandise and digital capabilities continue to pay off.

The company reported Wednesday a 3.4% rise in comparable sales for the quarter ended Aug. 3. Chief Executive Brian Cornell said Target's sales and traffic were achieved by attracting customers with a compelling assortment, convenience and competitive pricing.

Digital sales jumped 34% from a year earlier.

The company raised its earnings guidance for the year. Target now anticipates earnings of $5.90 to $6.20 a share, up from its previous range of $5.75 to $6.05 a share.

Shares of Target jumped 9.4% in premarket trading as sales were more than Wall Street analysts were expecting.

Discount chains have gained market share in recent quarters, while department stores have struggled to stand out. Walmart reported higher sales in the recent quarter, extending a multiyear streak of growth. Macy's Inc., Kohl's Corp. and J.C. Penney Co. posted disappointing results. Many retailers are also bracing for an increase in tariffs on goods imported from China.

Like other retailers, Target has been spending heavily to adjust to changes in shopping habits and compete with Amazon.com Inc. It has added new brands, expanded its pickup and delivery options, renovated stores and improved its digital capabilities. The retailer has also been benefiting from store closures by Toys "R" Us and others.

Target's second-quarter profit rose from a year earlier to $938 million, or $1.82 a share. Total sales climbed 3.6% to $18.42 billion.

Target said it expects a 3.4% increase for comparable sales in the current quarter as well as the second half of the year, and earnings of $1.04 to $1.24 a share for the quarter.

Write to Kimberly Chin at kimberly.chin@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
J C PENNEY COMPANY INC 17.28% 0.95 Delayed Quote.-8.65%
TARGET CORPORATION -1.11% 106.67 Delayed Quote.61.40%
WALMART INC. -0.11% 116.98 Delayed Quote.25.58%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on TARGET CORPORATION
09/19TARGET : Board Authorizes New $5 Billion Share-Repurchase Program
DJ
09/19TARGET CORPORATION : Declares Regular Quarterly Dividend and Announces New $5 Bi..
PR
09/18FedEx Slashes Outlook, Sinking Shares 10% -- WSJ
DJ
09/17FedEx Hit by Trade Tensions and Split With Amazon -- 3rd Update
DJ
09/17FedEx Hit by Trade Tensions and Split With Amazon -- 2nd Update
DJ
09/13Kroger Shows a Sales Turnaround -- WSJ
DJ
09/12Kroger's Sales Rise after Digital Investments
DJ
09/11Forever 21 Plans Bankruptcy Filing -- Update
DJ
09/10TARGET : ups hiring by 4% to more than 130,000 for holidays
AQ
09/10TARGET : rolling out Target Circle loyalty program nationwide next month
AQ
More news
Financials (USD)
Sales 2020 78 339 M
EBIT 2020 4 557 M
Net income 2020 3 174 M
Debt 2020 10 584 M
Yield 2020 2,45%
P/E ratio 2020 17,3x
P/E ratio 2021 16,3x
EV / Sales2020 0,83x
EV / Sales2021 0,81x
Capitalization 54 501 M
Chart TARGET CORPORATION
Duration : Period :
Target Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TARGET CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 111,29  $
Last Close Price 106,67  $
Spread / Highest target 21,9%
Spread / Average Target 4,33%
Spread / Lowest Target -23,1%
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 CORPORATION61.40%54 501
COSTCO WHOLESALE CORPORATION40.57%126 585
WAL-MART DE MEXICO S A B DE C V10.45%49 616
DOLLAR GENERAL CORPORATION44.55%40 311
BURLINGTON STORES INC23.00%12 897
DOLLARAMA INC47.77%11 396