Target Corporation
- Target Corp. plunged 9.5% to $96.90 after the big-box retailer reported a decline in sales in the second quarter, and same-store sales and consumer transactions also declined.
Consolidated revenue in the fiscal second quarter ending on August 2 edged down 0.9% to $25.2 billion from $25.4 billion, net income plunged 22% to $935 million from $1.2 billion, and diluted earnings per share fell to $2.06 from $2.58 a year ago.
During the second quarter, Target increased dividends per share by 1.8% and paid $509 million to its shareholders.
Comparable sales declined 1.9% in the fiscal second quarter, driven by a 3.2% drop in comparable store sales, partially offset by a 4.3% increase in comparable digital sales.
For the fiscal year, the company retained its outlook of a single-digit decline in sales and earnings per share between $8.0 and $10.0.
The retailer estimated adjusted earnings per share, which excludes gains from litigation settlements in the first quarter, to fall between $7.0 and $9.0.
In addition, the company announced that the longtime CEO Brian Cornell would retire in February, and chief operating officer Michael Fiddelke, a two-decade veteran at the company, will assume the post on February 1.
Aug 21, 2025 - Target Corp. eased 0.1% to $92.90 after the big-box retailer reported mixed first-quarter results and lowered its annual outlook.
Net sales slipped 2.8% to $23.85 billion from $24.53 billion, net earnings climbed 10% to $1.04 billion from $942 million, and diluted earnings per share rose 11.7% to $2.27 from $2.03 a year ago.
Comparable sales edged down 3.8% in the quarter amid a lower number of transactions and a lower average transaction amount, partially offset by comparable digital sales growth of 4.7%.
The company guided full-year sales to decline in low single digits, compared to $106.57 billion, and GAAP earnings per share to be between $8.00 and $10.00, compared to $8.86 a year earlier, respectively.
Target paid dividends of $510 million in the first quarter, compared with $508 million last year, reflecting a 1.8% increase in the dividend per share.
In addition, the company repurchased $251 million of its own shares, retiring 2.2 million shares at an average price of $114.60, and as of the end of the quarter, the company had approximately $8.4 billion remaining under repurchase authorization.
May 22, 2025 - Target Corp. gained 0.4% to $117.61 after the large-format store chain operator reported fourth-quarter comparable sales growth of 1.5%, reflecting steady traffic and digital performance.
Net sales in the fourth quarter ending on February 1 dropped 3.1% to $30.91 billion from $31.92 billion, net earnings declined to $1.10 billion from $1.38 billion, and earnings per diluted share fell to $2.41 from $2.98 a year ago.
Fourth-quarter comparable sales advanced 1.5%, as digital comparable sales grew 8.7% from a year ago.
Same-day delivery powered by Target Circle 360™ grew more than 25% compared to last year.
Comparable sales in apparel and hardlines accelerated by nearly 4% as compared to the third quarter.
The company guided for fiscal 2025 net sales growth of around 1%, based on flat comparable sales growth.
Target expects a “modest increase” in its operating margin rate compared to full-year 2024, an effective tax rate between 23% and 24%, and GAAP and adjusted earnings per share between $8.80 and $9.80, compared to $8.86 in 2024.
Target paid dividends of $513 million in the fourth quarter, up 1.8% from $508 million last year.
In addition, the company repurchased $506 million of its shares, retiring 3.7 million shares at an average price of $136.89, and as of the end of the fourth quarter, Target had $8.7 billion in remaining repurchase authorization since the program’s approval in August 2021.
Mar 5, 2025 - Target Corp. declined 0.8% to $133.52 after the big-box retailer raised its sales outlook in the fourth quarter.
The retailer said comparable sales are likely to increase 1.5% in the fourth quarter, compared to the previous estimate of flat.
The company left its earnings estimate unrevised for the quarter and the full year, indicating customers were driven by promotions and deals during the holiday period.
The retailer anticipated earnings per share in the fourth quarter between $1.85 and $2.45 and for the full year between $8.30 and $8.90.
Target said it will release detailed financial results on March 4.
Jan 16, 2025 - Target Corp. plunged 19% to $127.35 after the discount retailer reported weaker-than-expected quarterly results and guided a cautious outlook.
Total revenue in the fiscal third quarter ending on November 2 increased 1.1% to $25.66 billion from $25.39 billion, net income plunged 12.1% to $854 million from $971 million, and diluted earnings per share fell to $1.85 from $2.10 a year earlier.
The retailer forecast fourth quarter earnings per share between $1.85 and $2.45, sharply lower than the market expectation of at least $2.65, and full-year earnings per share between $8.30 and $8.90.
Nov 20, 2024
| Year | May | Aug | Nov | Feb | Annual | |
|---|---|---|---|---|---|---|
| 2023 | 1.89 | 2.05 | 1.80 | 2.10 | - | |
| 2022 | 3.24 | 2.16 | 0.39 | 1.54 | 5.98 | |
| 2021 | 2.72 | 4.17 | 3.65 | 3.04 | 14.1 | |
| 2020 | 1.62 | 0.56 | 3.35 | 2.01 | 8.64 | |
| 2019 | 1.53 | 1.53 | 1.82 | 1.69 | 6.36 | |
| 2018 | 1.37 | 1.32 | 1.47 | 1.09 | 5.51 | |
| 2017 | 1.45 | 1.21 | 1.23 | 0.91 | 4.8 | |
| 2016 | 1.52 | 1.29 | 1.23 | 1.04 | 5.08 | |
| 2015 | 1.50 | 1.10 | 1.22 | 0.86 | 4.68 | |
| 2014 | 0.66 | 0.37 | 0.55 | 0.81 | 3.07 | |
| 2013 | 0.77 | 0.95 | 0.54 | 1.46 | 4.52 | |
| 2012 | 1.04 | 1.06 | 0.96 | 1.44 | 4.28 | |
| 2011 | 0.99 | 1.03 | 0.82 | 1.44 | 4 | |
| 2010 | 0.90 | 0.92 | 0.74 | 1.24 | 3.3 | |
| 2009 | 0.69 | 0.79 | 0.58 | 0.81 | 2.86 | |
| 2008 | 0.74 | 0.82 | 0.49 | 1.22 | 3.33 | |
| 2007 | 0.75 | 0.80 | 0.56 | 1.29 | 3.21 | |
| 2006 | 0.63 | 0.70 | 0.59 | 1.06 | 2.71 | |
| 2005 | 0.55 | 0.61 | 0.49 | 0.92 | 3.51 |