Target: raises 2019 earnings forecast
(CercleFinance.com) - Target has raised its full-year earnings forecast as the US retailer continues to optimise costs, pricing, offers and assortment, while benefiting from a favourable sales mix.
Target's same-store sales rose 4.5% in the three months ended 2 November, reflecting 2.8% growth in stores and a 1.7 point contribution from on-line sales.
The company earned 1.36 dollar per share on an adjusted basis, above its own estimate of 1.04 dollar to 1.24 dollar. In the meantime, revenue rose 4.7% to 18.7 billion dollars.
Target said it now expects full-year adjusted earnings of 6.25 dollars to 6.45 dollars per share. This compares with a previous target range of 5.90 dollars to 6.20 dollars.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Target's same-store sales rose 4.5% in the three months ended 2 November, reflecting 2.8% growth in stores and a 1.7 point contribution from on-line sales.
The company earned 1.36 dollar per share on an adjusted basis, above its own estimate of 1.04 dollar to 1.24 dollar. In the meantime, revenue rose 4.7% to 18.7 billion dollars.
Target said it now expects full-year adjusted earnings of 6.25 dollars to 6.45 dollars per share. This compares with a previous target range of 5.90 dollars to 6.20 dollars.
Copyright (c) 2019 CercleFinance.com. All rights reserved.