earnings
confidence high
sentiment neutral
materiality 0.85
Target Q2 GAAP EPS $1.80 beats guidance; sales miss, FY guidance cut
TARGET CORP
2023-Q2 EPS reported
$3.86
revenue$50,095,000,000
- Q2 GAAP & adjusted EPS $1.80 vs $0.39 a year ago, above high end of guidance.
- Revenue $24.8B (-4.9% YoY); comparable sales -5.4% (store -4.3%, digital -10.5%).
- Operating income margin 4.8% vs 1.2% last year; gross margin 27.0% vs 21.5%.
- Inventory down 17% YoY; frequency categories grew, discretionary fell.
- FY2023 EPS guidance lowered to $7.00-8.00 from $7.75-8.75; Q3 EPS guided $1.20-1.60.