Target Raises Q4 Guidance on Stronger-than-Expected Holiday Sales

Target Corporation (NYSE: TGT) today announced that its comparable sales in the combined November/December period grew 3.4 percent, compared with the expected range of 0 to 2 percent. Comparable sales across all of the Company’s core merchandise categories – Home, Apparel, Food & Beverage, Hardlines and Essentials – were positive and accelerated from the third quarter, reflecting strong traffic growth, positive store comps and continued strength in digital sales. Target now expects 2017 will be the fourth consecutive year in which its digital sales grow more than 25 percent.

“We are very pleased with our holiday season performance, which reflects the progress we’ve made against our strategy throughout the year,” said Brian Cornell, chairman and chief executive officer of Target Corporation. “We’ve positioned our stores at the center of a continually expanding suite of convenient fulfillment options and made significant investments in our team, which enabled our stores to fulfill 70 percent of all digital orders in the November/December period. As we look ahead to 2018, we will build on the foundation we established this year by launching additional exclusive brands, enhancing our digital capabilities, opening approximately 30 small-format stores and tripling the size of our remodel program to more than 325 stores. We will also remain focused on rapidly scaling up new fulfillment options including Same Day Delivery, which will be enabled by our acquisition of Shipt, and our recently launched Drive Up service.”

Updated Fourth Quarter and Full-Year 2017 Guidance
Target now expects fourth quarter comparable sales growth in a range around 3.4 percent, consistent with results in the November/December period. This would translate into full-year 2017 comparable sales growth of just over 1 percent. Sales from new and non-mature stores are expected to contribute approximately 70 basis points to Target’s fourth quarter sales growth. Combined with the impact of a 53rd week in the 2017 fiscal year, Target’s total sales are expected to grow more than 9 percent in the fourth quarter.
more at: http://investors.target.com/phoenix.zhtml?c=65828&p=irol-newsArticle&ID=2325655

Related Posts

Amazon.com Announces Second Quarter Results

Net sales increased 10% to $148.0 billion in the second quarter, compared with $134.4 billion in second quarter 2023. Excluding the $1.0 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 11% compared with second quarter 2023. *North America segment sales increased 9% year-over-year to $90.0 billion. Operating income increased to $14.7 billion in the second quarter, compared with $7.7 billion in second quarter 2023. *North America segment operating income was $5.1 billion. Net income increased to $13.5 billion in the second quarter, or $1.26 per diluted share, compared with $6.7 billion, or $0.65 per diluted share, in second quarter 2023.

USPS Reports Ongoing Service Performance Improvements Across All Mail Categories

Fourth-quarter service performance for July 1 through July 16 included: *First-Class Mail: Delivered 89.3 percent of First-Class Mail on time against the USPS service standard, an improvement of nearly 2 percentage points from the third quarter. *Marketing Mail: Delivered 92.0 percent of Marketing Mail on time against the USPS service standard, an improvement of 1 percentage point from the third quarter. *Periodicals: Delivered 83.0 percent of Periodicals on time against the USPS service standard, an improvement of nearly 4 percentage points from the third quarter. The Postal Service’s continued improvement despite seasonal effects from the Independence Day federal holiday anticipated during for the period of July 10 to July 16.

Wiley Reports Fourth Quarter and Fiscal Year 2023 Results

4th Quarter Summary (results vs. prior year) *GAAP Results: Revenue of $526 million (-4%), Operating income of $82 million (+41%), and EPS of $1.22 (+$0.46). Full Year Summary (results vs. prior year): *GAAP Results: Revenue of $2,020 million (-3%), Operating income of $56 million (-$163 million), and EPS of $0.31 (-$2.31). GAAP earnings performance primarily due to $100 million ($1.77/share) of non-cash goodwill impairment in Education Services/University Services and restructuring charges totalling $49 million ($0.66/share). *Cash from Operations of $277 million (-$62 million) and Free Cash Flow of$173 million (-$50 million) mainly due to higher restructuring payments and interest payments.
Back To Top
×Close search
Search