Target CorporationTGT
▲ PositiveDemandrelevance
Target raised full-year sales growth outlook to about 5% and beat Q2 expectations, citing price cuts and refreshed product lineup.
Impact on stocks 1
Consumer Staples
Target CorporationUS discount retail giant Target has raised its full-year sales growth outlook for the second time this year, citing the effects of price cuts and a refreshed product lineup. The latest full-year sales growth outlook is about 5% year on year, up from the previous forecast of about 4%. Second-quarter comparable sales for the May-to-July period rose 3.8% from a year earlier, beating market expectations of a 2.5% increase. Earnings per share related to tariffs came to 1.65 dollars, and even excluding that item, second-quarter earnings per share were 2.46 dollars, exceeding the market forecast of 2.33 dollars. The results show that the turnaround strategy being pursued by newly appointed CEO Michael Fiddelke is beginning to deliver results ahead of the year-end shopping season.
Target CorporationTarget raised full-year sales growth outlook to about 5% and beat Q2 expectations, citing price cuts and refreshed product lineup.