Target Q4 and Full-Year 2024 earnings report

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Source: Dukascopy Bank SA
Target Corporation reported a mixed performance for Q4 and full-year 2024. For Q4, the company saw a 1.5% increase in comparable sales, driven by strong digital growth (+8.7%) and categories like Toys, Electronics, and Apparel. However, Q4 EPS was $2.41, down from $2.98 in Q4 2023. Operating income for Q4 dropped 21.3%, totaling $1.5 billion.

For the full year, Target's net sales decreased by 0.8% to $106.6 billion. However, comparable sales rose slightly (+0.1%), with strong performances in Beauty and Food & Beverage. Full-year adjusted and GAAP EPS were $8.86, slightly down from $8.94 in 2023. The company's gross margin rate improved to 28.2%, up from 27.5% in 2023, though higher costs in digital fulfillment and promotions offset these gains.

Target's efficiency efforts delivered over $2 billion in savings over the last two years. The company also repurchased $506 million in shares and paid $513 million in dividends for Q4. For 2025, Target expects modest net sales growth of around 1%, with flat comparable sales. Full-year EPS guidance is between $8.80 and $9.80.

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