Target: Q2 Earnings Insights

Shares of Target TGT fell 3.8% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were up 7.69% year over year to $3.64, which beat the estimate of $3.49.

Revenue of $25,160,000,000 higher by 9.51% from the same period last year, which beat the estimate of $25,080,000,000.

Outlook

Target said 'For the second half of 2021, the Company expects high single digit growth in comparable sales, near the high end of the previous guidance range.'

Conference Call Details

Date: Aug 18, 2021

Time: 08:00 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/bm9t6eo7

Technicals

52-week high: $267.06

52-week low: $134.67

Price action over last quarter: Up 10.46%

Company Profile

With 1,897 stores (as of the end of fiscal 2020), Target is a leading American general merchandise retailer, offering a variety of products across several categories, including beauty and household essentials (26% of fiscal 2020 sales), food and beverage (20%), home furnishings and décor (20%), hardlines (18%), and apparel and accessories (16%). Most of Target's stores are large, averaging nearly 130,000 square feet. The company has a significant e-commerce presence, deriving around 18% of sales from the channel (up from about 9% in fiscal 2019, before the pandemic). In addition to its namesake stores, Target owns Shipt, an online same-day delivery platform. After it exited Canada in 2015, virtually all of Target's revenue is generated from the United States.

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