Target Corp

TGT

Equity

ISIN US87612E1064 / Valor 1036943

New York Stock Exchange, Inc (2024-12-26)

USD 136.39+3.01%

Target Corp
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About company

Target Corp, headquartered in Minneapolis, Minnesota, is a prominent American retail corporation known for offering a wide array of merchandise at its stores and through its digital platforms. The company operates a vast network of stores across the United States, providing customers with a variety of products including clothing, electronics, food, household goods, and more. Target has established itself as a key player in the retail sector by focusing on providing a convenient shopping experience, competitive pricing, and a diverse product range. Its commitment to innovation and customer service has allowed it to remain competitive in the evolving retail landscape. While the company's marketing and branding efforts, symbolized by its recognizable Bullseye logo and mascot, have contributed to its strong market presence, Target continues to adapt its business strategies to meet changing consumer demands and technological advancements.

Summarized from source with an LLMView SourceSector: Consumer Services

Sales Growth

In the third quarter of 2024, Target Corporation reported a 0.3 percent increase in comparable sales, driven by a 2.4 percent growth in guest traffic and a 10.8 percent rise in digital comparable sales. The beauty category saw a notable increase of over 6 percent, while the Food & Beverage and Essentials categories experienced low-single-digit growth compared to the previous year.

Revenue and Income

Target Corporation's total revenue for the third quarter of 2024 was $25.7 billion, marking a 1.1 percent increase from the previous year. However, the company's operating income for the quarter was $1.2 billion, which is an 11.2 percent decrease compared to the same period last year. The operating income margin rate also declined to 4.6 percent from 5.2 percent in 2023.

Earnings Per Share

For the third quarter of 2024, Target Corporation reported a GAAP and Adjusted earnings per share (EPS) of $1.85, which is an 11.9 percent decrease from the $2.10 reported in the third quarter of 2023. This decline in EPS reflects the challenges and cost pressures faced by the company during the quarter.

Dividends and Share Repurchase

During the third quarter of 2024, Target Corporation paid out $516 million in dividends, representing a 1.8 percent increase in the dividend per share compared to the previous year. Additionally, the company repurchased $354 million worth of its shares, retiring 2.4 million shares of common stock at an average price of $147.43.

Future Outlook

Looking ahead to the fourth quarter of 2024, Target Corporation expects approximately flat comparable sales and projects GAAP and Adjusted EPS to range between $1.85 and $2.45. For the full year, the company anticipates GAAP and Adjusted EPS to be between $8.30 and $8.90, reflecting confidence in its business fundamentals and long-term financial goals.

Summarized from source with an LLMView Source

Key figures

-3.29%1Y

-38.3%3Y

5.82%5Y

Performance

38.7%1Y

39.8%3Y

36.6%5Y

Volatility