Target’s Solid Financials Signal Progress In “Rapidly-Changing” Retail Environment

Target Corporation posted a net profit of $2.9 billion ($5.32 a share) on fiscal 2017 sales of $71.9 billion, a year-over-year sales increase of 3.4 percent. The earnings per share result compares to $4.58 in 2016. The company cited the success of strategic initiatives and long-term investments in delivering strong traffic growth in stores and online “in a rapidly-changing consumer and retail environment." In 2018, Target said it expected a low-single digit increase in comparable sales, and both GAAP EPS from continuing operations and adjusted EPS of $5.15 to $5.45. [Image Credit: © Target]