Target disappoints investors

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Source: Dukascopy Bank SA


On November 20th, Target Corporation released its quarterly report, with both earnings per share and revenue falling short of estimates. Earnings per share were down by 19.48%, and revenue decreased by 0.77%. Earnings per share for the quarter were $1.85, a decline of 11.9% compared to last year.

In the third quarter, sales grew by 0.3% due to increased customer traffic and strong online sales. Customer traffic rose by 2.4%, and online sales grew by 10.8%, with same-day delivery increasing nearly 20%. Beauty sales were up over 6%, and Food & Beverage and Essentials saw modest growth. The gross margin dropped slightly by 0.2%, but has improved by 1% year-to-date.

Since the release of the quarterly report, Target's stock price has dropped by more than 20%. It is currently trading around $120.
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