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Earnings Report-Target

Earnings Report-Target

Target enters the holiday season strong


The Associated Press - November 20, 2019

MINNEAPOLIS - Target is reporting another quarter of strong sales and profits and raising its outlook as it pushes faster delivery and new store brands.

The discounter said Thursday that third-quarter comparable sales, which also include online sales, rose 4.5%. That reflects a 2.8% growth in stores open at least a year. Third quarter online sales rose 31%.

Profit was $714 million, or $1.39 per share. Earnings, adjusted to account for discontinued operations and non-recurring gains, came to $1.36 per share, easily beating Wall Street per-share expectations for $1.19.

Revenue was $18.67 billion, also topping projections.



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