Target (TGT) reported earnings on Tue 2 March 21 (b/o)

** charts after earnings **  

 

 

 

 

 

Target beats by $0.13, beats on revs

Reports Q4 (Jan) earnings of $2.67 per share, $0.13 better than the S&P Capital IQ Consensus of $2.54; revenues rose 21.0% year/year to $28 bln vs the $27.42 bln S&P Capital IQ Consensus.

• Comparable sales grew 20.5 percent, reflecting comparable traffic growth of 6.5 percent and a 13.1 percent increase in average ticket.
• Store comparable sales increased 6.9 percent. Digital comparable sales grew 118 percent, accounting for two-thirds of the Company's overall comp growth.

Fiscal 2021 Guidance - In the first quarter of 2020, the Company withdrew its guidance, in light of the highly fluid and uncertain outlook for consumer shopping patterns and the impact of COVID-19. In the face of continued uncertainty, the company is not providing sales and EPS guidance for Fiscal 2021 and beyond.