Target (TGT) Tops Q4 EPS by 6c; Guides Q1 Profit Below Consensus
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Price: $166.51 -0.36%
EPS Growth %: -0.5%
Financial Fact:
Earnings before income taxes: 919M
Today's EPS Names:
SFST, VLTO, CLIR, More
EPS Growth %: -0.5%
Financial Fact:
Earnings before income taxes: 919M
Today's EPS Names:
SFST, VLTO, CLIR, More
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(Updated - February 26, 2014 7:39 AM EST)
Target Corp. (NYSE: TGT) reported Q4 EPS of $1.30, $0.06 better than the analyst estimate of $1.24. Revenue for the quarter came in at $0 versus the consensus estimate of $21.4 billion.
Target's U.S. comparable sales decreased (2.5)% in the fourth quarter, consistent with prior guidance, driven by positive comparable sales prior to our December 19 announcement of a data breach, followed by meaningfully softer results following the announcement.
Target Corp. sees Q1 2014 EPS of $0.60-$0.75, versus the consensus of $0.85. This measure excludes approximately cents related to the expected reduction of the beneficial interest asset2, as well as any net expenses related to the data breach.
Target Corp. sees FY2014 EPS of $3.85-$4.15, versus the consensus of $4.15. This measure excludes approximately (7) cents related to the expected reduction of the beneficial interest asset, as well as any net expenses related to the data breach.
At this time, the Company is not able to estimate future expenses related to the data breach. Expenses may include payments associated with potential claims by the payment card networks for alleged counterfeit fraud losses and non-ordinary course operating expenses (such as card re-issuance costs), REDcard fraud and card re-issuance expense, payments associated with civil litigation, governmental investigations and enforcement proceedings, expenses for legal, investigative and consulting fees, and incremental expenses and capital investments for remediation activities. These costs may have a material adverse effect on Target's results of operations in first quarter and full-year 2014 and future periods.
"For more than 50 years Target has succeeded by focusing on our guests," said Gregg Steinhafel, chairman, president and chief executive officer of Target Corporation. "During the first half of the fourth quarter, our guest-focused holiday merchandising and marketing plans drove better-than-expected sales. However, results softened meaningfully following our December announcement of a data breach. As we plan for the new fiscal year, we will continue to work tirelessly to win back the confidence of our guests and deliver irresistible merchandise and offers, and we are encouraged that sales trends have improved in recent weeks."
For earnings history and earnings-related data on Target Corp. (TGT) click here.
Target Corp. (NYSE: TGT) reported Q4 EPS of $1.30, $0.06 better than the analyst estimate of $1.24. Revenue for the quarter came in at $0 versus the consensus estimate of $21.4 billion.
Target's U.S. comparable sales decreased (2.5)% in the fourth quarter, consistent with prior guidance, driven by positive comparable sales prior to our December 19 announcement of a data breach, followed by meaningfully softer results following the announcement.
Target Corp. sees Q1 2014 EPS of $0.60-$0.75, versus the consensus of $0.85. This measure excludes approximately cents related to the expected reduction of the beneficial interest asset2, as well as any net expenses related to the data breach.
Target Corp. sees FY2014 EPS of $3.85-$4.15, versus the consensus of $4.15. This measure excludes approximately (7) cents related to the expected reduction of the beneficial interest asset, as well as any net expenses related to the data breach.
At this time, the Company is not able to estimate future expenses related to the data breach. Expenses may include payments associated with potential claims by the payment card networks for alleged counterfeit fraud losses and non-ordinary course operating expenses (such as card re-issuance costs), REDcard fraud and card re-issuance expense, payments associated with civil litigation, governmental investigations and enforcement proceedings, expenses for legal, investigative and consulting fees, and incremental expenses and capital investments for remediation activities. These costs may have a material adverse effect on Target's results of operations in first quarter and full-year 2014 and future periods.
"For more than 50 years Target has succeeded by focusing on our guests," said Gregg Steinhafel, chairman, president and chief executive officer of Target Corporation. "During the first half of the fourth quarter, our guest-focused holiday merchandising and marketing plans drove better-than-expected sales. However, results softened meaningfully following our December announcement of a data breach. As we plan for the new fiscal year, we will continue to work tirelessly to win back the confidence of our guests and deliver irresistible merchandise and offers, and we are encouraged that sales trends have improved in recent weeks."
For earnings history and earnings-related data on Target Corp. (TGT) click here.
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