logo
Plus   Neg
Share
Email

Target Boosts FY19 Adj. EPS Outlook - Quick Facts

While reporting financial results for the second quarter on Wednesday, retailer Target Corp. (TGT) initiated adjusted earnings and comparable sales guidance for the third quarter as well as raised adjusted earnings guidance for the full-year 2019.

For the third quarter, Target expects comparable sales growth of 3.4 percent, with both earnings from continuing operations and adjusted earnings to be in a range of $1.04 to $1.24 per share.

Looking ahead to fiscal 2019, the retailer raised its guidance for both earnings from continuing operations and adjusted earnings to a range of $5.90 to $6.20 per share from the prior outlook range of $5.75 to $6.05 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.62 per share for the third quarter and $5.93 per share for the year. Analysts' estimates typically exclude special items.

Additionally, the company reported second-quarter comparable sales growth of 3.4 percent on traffic growth of 2.4 percent. Comparable store sales grew 1.5 percent, and comparable digital sales grew 1.8 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration on Tuesday unveiled a new international collaboration for simultaneous review and approval of cancer drugs along with the agency's Australian and Canadian counterparts. The simultaneous approval of cancer therapies by the three regulators is intended to accelerate the process of making these new treatments available to patients around the world. Humanscale Corp. recalled about 24,900 units of QuickStand Lite workstations for concerns of injury hazard. These include about 2,200 units sold in Canada. The recalled workstation's arm can break and cause the workstation to fall, posing a risk of injury. The company has already received 52 reports of the arm breaking, including 12 reports of minor injuries. Facebook has revealed more details on the structure of an independent "oversight board" that will make final decisions about what posts stay up or come down, even if the company disagrees. The new "Oversight Board" will govern appeals from both Facebook and its users.
Follow RTT