Target Corp. (TGT) Tops Q4 EPS by 17c; Issues Strong Q1 EPS Outlook
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Price: $166.51 --0%
Revenue Growth %: -3.2%
Financial Fact:
Sales: 16.44B
Today's EPS Names:
SEIC, OSBC, USAP, More
Revenue Growth %: -3.2%
Financial Fact:
Sales: 16.44B
Today's EPS Names:
SEIC, OSBC, USAP, More
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(Updated - February 27, 2013 7:46 AM EST)
Target Corp. (NYSE: TGT) reported Q4 EPS of $1.65, $0.17 better than the analyst estimate of $1.48. Revenue for the quarter came in at $22.37 billion versus the consensus estimate of $22.66 billion.
EPS was to the low-end of Target's previously-issued guidance, which called for EPS of $1.64 to $1.74.
Unadjusted Q412 EPS came in at $1.47.
As previously reported, U.S. sales increased 6.8 percent to $22.4 billion in fourth quarter 2012 from $20.9 billion last year, reflecting a 0.4 percent increase in comparable-store sales combined with the contribution from new stores and one additional accounting week.
Fourth quarter average receivables decreased 4.6 percent to $6.1 billion in 2012 from $6.4 billion in 2011.
In Canada, fourth quarter and full-year 2012 EBIT was $(148) million and $(369) million, respectively, due to start-up expenses, depreciation and amortization related to the Company’s expected market entry in 2013.
As a result of Target’s agreement to sell its entire consumer credit card receivables portfolio to TD Bank Group, GAAP earnings reflect fourth quarter and full-year pre-tax gains of $5 million and $161 million, respectively.
Looking ahead, Target sees FY13 EPS of $4.85 to $5.05, versus the consensus of $4.82.
Sees Q113 EPS of $1.10 to $1.20, versus the consensus of $1.05.
"We believe these results position us well to deliver on significant plans in 2013, including completion of the largest store opening program in our company’s history with 124 stores in Canada and additional Target and CityTarget locations in the U.S., investing in new processes and technology that will improve our guests’ multichannel experience and closing the sale of our credit card receivables," commented CEO Gregg Steinhafel.
For earnings history and earnings-related data on Target Corp. (TGT) click here.
Target Corp. (NYSE: TGT) reported Q4 EPS of $1.65, $0.17 better than the analyst estimate of $1.48. Revenue for the quarter came in at $22.37 billion versus the consensus estimate of $22.66 billion.
EPS was to the low-end of Target's previously-issued guidance, which called for EPS of $1.64 to $1.74.
Unadjusted Q412 EPS came in at $1.47.
As previously reported, U.S. sales increased 6.8 percent to $22.4 billion in fourth quarter 2012 from $20.9 billion last year, reflecting a 0.4 percent increase in comparable-store sales combined with the contribution from new stores and one additional accounting week.
Fourth quarter average receivables decreased 4.6 percent to $6.1 billion in 2012 from $6.4 billion in 2011.
In Canada, fourth quarter and full-year 2012 EBIT was $(148) million and $(369) million, respectively, due to start-up expenses, depreciation and amortization related to the Company’s expected market entry in 2013.
As a result of Target’s agreement to sell its entire consumer credit card receivables portfolio to TD Bank Group, GAAP earnings reflect fourth quarter and full-year pre-tax gains of $5 million and $161 million, respectively.
Looking ahead, Target sees FY13 EPS of $4.85 to $5.05, versus the consensus of $4.82.
Sees Q113 EPS of $1.10 to $1.20, versus the consensus of $1.05.
"We believe these results position us well to deliver on significant plans in 2013, including completion of the largest store opening program in our company’s history with 124 stores in Canada and additional Target and CityTarget locations in the U.S., investing in new processes and technology that will improve our guests’ multichannel experience and closing the sale of our credit card receivables," commented CEO Gregg Steinhafel.
For earnings history and earnings-related data on Target Corp. (TGT) click here.
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