Target (TGT) Tops Q2 Expectations on Strong Sales, Comps; Boosts FY12 Outlook on Continued Sentiment
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Price: $71.06 +1.51%
EPS Growth %: +10.7%
Financial Fact:
Credit card revenues: 355M
Today's EPS Names:
LBIX, ESEA, ISS, More
EPS Growth %: +10.7%
Financial Fact:
Credit card revenues: 355M
Today's EPS Names:
LBIX, ESEA, ISS, More
Trade TGT Now!
Target (NYSE: TGT) hit a bulls-eye in its most recent quarter, issuing strong second-quarter numbers on the back of solid sales figures.
As previously reported, Target had $16.45 billion in sales for its second-quarter, with comps up 3.1 percent in the period.
Net earnings were flat in the period, to $704 million, or $1.06 per share. Adjusting for certain one-time items, EPS came in at a more robust $1.12, up 4.6 percent from the same period last year.
Overall, the Street was looking for sales of $16.8 billion and earnings of $1.01 per share.
Target's Credit Card segment reported a 5 percent decrease in receivables to $5.9 billion, with portfolio spread to LIBOR at 9.5 percent. Credit Card contributed $328 million to revenue, down 5.1 percent.
Units per transaction fell from 1.8 down to 1.3.
Looking ahead, Target sees third-quarter 2012 adjusted EPS of 83 cents to 93 cents while boosting its fiscal 2012 EPS outlook from a range of $4.60 to $4.80 up to $4.65 to $4.85. The Street was looking for third-quarter EPS of 76 cents and 2012 EPS of $4.31.
Shares are up over 1 percent in early trading Wednesday.
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As previously reported, Target had $16.45 billion in sales for its second-quarter, with comps up 3.1 percent in the period.
Net earnings were flat in the period, to $704 million, or $1.06 per share. Adjusting for certain one-time items, EPS came in at a more robust $1.12, up 4.6 percent from the same period last year.
Overall, the Street was looking for sales of $16.8 billion and earnings of $1.01 per share.
Target's Credit Card segment reported a 5 percent decrease in receivables to $5.9 billion, with portfolio spread to LIBOR at 9.5 percent. Credit Card contributed $328 million to revenue, down 5.1 percent.
Units per transaction fell from 1.8 down to 1.3.
Looking ahead, Target sees third-quarter 2012 adjusted EPS of 83 cents to 93 cents while boosting its fiscal 2012 EPS outlook from a range of $4.60 to $4.80 up to $4.65 to $4.85. The Street was looking for third-quarter EPS of 76 cents and 2012 EPS of $4.31.
Shares are up over 1 percent in early trading Wednesday.
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