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
JetBlue Airways said it will continue to block middle seats in rows where passengers are not traveling together through the July 4 holiday. JetBue will block middle seats on its Airbus aircraft, while it will block aisle seats on its smaller Embraer 190 aircraft. Customers traveling together will be allowed to sit in the middle and aisle seats. The U.S. Food and Drug Administration or FDA announced on its website that New Hoque and Sons, Inc. is recalling Radhuni Curry Powder distributed in New York City, New York due to potential Salmonella contamination. The recall was made after it was found that the finished products contained several strains of Salmonella, the company said. General Motors is reopening its plants in Mexico after it received approval from the Mexican government to restart operations in the country, according to reports. The automaker had suspended its operations in Mexico in the third week of March due to the coronavirus pandemic. GM's Mexican manufacturing facilities are important as they supply critical parts for its plants in the U.S.
Follow RTT