Already have an account? Sign in.

 Remember Me | Forgot Your Password?

Target’s Q1 Numbers Are Promising, But There’s Still Work To Do

May 17, 2017: 12:00 AM EST
Target seems to be on a path to recovery, if profit is any indication, though it reported a first quarter same-store sales decline of 1.3 percent due to drops in traffic and basket size. Digital sales were up 22 percent, however. Sales totaled $16 billion down from $16.2 billion last year. Earnings per share (EPS) for the quarter were $1.22, compared with $1.02 a year ago. Thomson Reuters consensus forecast was 91 cents. The company expects a “low single-digit decline” in same-store sales in the second quarter, and adjusted EPS of $0.95 to $1.15. For the full-year 2017, Target continues to project a low single-digit decline in same-store sales. CEO Brian Cornell said the company is in "the early stage of a multi-year effort to position Target for profitable, consistent long-term growth.”
"Target Reports First Quarter 2017 Earnings", Earnings release, Target, May 17, 2017, © Target Brands, Inc.
Domains
RETAIL BUSINESS
Market News
Operations
Strategy
Geographies
Worldwide
North America
United States of America
Categories
Companies, Organizations
Earnings Release
Market News
Developed by Yuri Ingultsov Software Lab.