Target: beats expectations, shares down
(CercleFinance.com) - Target has posted higher-than-expected quarterly earnings on Tuesday, driven by healthy performance in both its stores and digital channels.
The company's reported GAAP EPS from continuing operations was 1.63 dollar in the fourth quarter, compared with 1.52 dollar in the fourth quarter 2018.
Adjusted EPS was 1.69 dollar, topping the consensus of 1.66 dollar.
Fourth-quarter comparable sales grew 1.5%, thanks to comparable digital sales growth of 20%.
Target forecasts first-quarter EPS earnings of 1.55-1.75 dollar. Over the full year, its expects to earn 6.70 dollars to 7 dollars per share.
The US discount chain's share is down 1.1% in Tuesday morning trading.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The company's reported GAAP EPS from continuing operations was 1.63 dollar in the fourth quarter, compared with 1.52 dollar in the fourth quarter 2018.
Adjusted EPS was 1.69 dollar, topping the consensus of 1.66 dollar.
Fourth-quarter comparable sales grew 1.5%, thanks to comparable digital sales growth of 20%.
Target forecasts first-quarter EPS earnings of 1.55-1.75 dollar. Over the full year, its expects to earn 6.70 dollars to 7 dollars per share.
The US discount chain's share is down 1.1% in Tuesday morning trading.
Copyright (c) 2020 CercleFinance.com. All rights reserved.