Technology

Stock News in Focus: Target Corporation (NYSE:TGT)

On Wednesday Target Corporation (NYSE:TGT) stock soared 14.06% and closed at 126.43. The stock opened the session at $122.32 and touched its highest price point at $127.2. Its recent trading capacity is 32377978 shares versus to its average trading volume of 4195360 shares. The company’s stock’s lowest price point for the session stood at $118.36.TGT traded as low as $ 60.15 in the past 52 weeks, and shares hit its peak level to $127.2.

  • On Nov. 20, 2019, Third quarter comparable sales grew 4.5 percent, on top of 5.1 percent last year, meaning that comparable sales have risen nearly 10 percent over the last two years.
  • Third quarter comparable sales growth reflects 2.8 percent growth in stores and a 1.7 percentage point contribution from digital sales.
  • Third quarter comparable digital channel sales grew 31 percent, on top of 49 percent last year. Same-day fulfillment services (Order Pick Up, Drive Up and Shipt) accounted for 80% of Target’s digital comparable sales growth.
  • Third quarter comparable traffic grew 3.1 percent, driven by increases in both stores and digital channels.
  • Third quarter operating income grew 22.3 percent compared with last year.
  • GAAP EPS from continuing operations of $1.37 was 18.2 percent higher than last year. Adjusted EPS of $1.36 was 24.9 percent higher than last year.
  • Target now expects full-year 2019 GAAP EPS from continuing operations of $6.27 to $6.47 and Adjusted EPS of $6.25 to $6.45, compared with the prior range of $5.90 to $6.20.

Target Corporation (NYSE:TGT) released its third quarter 2019 performance, including comparable sales growth of 4.5 percent and a 3.1 percent increase in comparable traffic.  The Company reported GAAP earnings per share (EPS) from continuing operations of $1.37 in third quarter 2019, up 18.2 percent from $1.16 in third quarter 2018.  Third quarter Adjusted EPS of $1.36 was 24.9 percent higher than $1.09 in third quarter 2018. The attached tables provide a reconciliation of non-GAAP to GAAP measures. All earnings per share figures refer to diluted EPS.

Brian Cornell, chairman and CEO of Target, said The Target team did an excellent job serving our guests and executing our strategy throughout the third quarter. Our third quarter results are further proof of the durability of our strategy, as we’re seeing industry-leading strength across multiple metrics, from the top line to the bottom line. Looking ahead, we have ushered in the holiday season with an unwavering commitment to guest service that complements our highly differentiated, value-driven assortment, our exceptional in-store shopping experience as well as an unmatched suite of easy and convenient fulfillment options.

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