Target Q4 GAAP EPS $2.98, beats high-end of guidance; Q1 2024 comp sales seen down 3-5%

TARGET CORP

2023-FY EPS reported $8.94 revenue$107,412,000,000

Q4 GAAP & adjusted EPS $2.98 vs $1.89 last year, above guidance of $1.90–$2.60.
Total revenue $31.9B (+1.7% YoY); comparable sales declined 4.4%.
Full-year 2023 GAAP & adjusted EPS $8.94, nearly 50% higher YoY; operating income margin 5.3%.
Q1 2024 guidance: comp sales -3 to -5%; EPS $1.70–$2.10. Full-year 2024 EPS $8.60–$9.60.
Same-day services grew 13.6% in Q4; efficiency savings >$500M in 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TARGET CORP reported full-year 2023 results: revenue $107.4 billion, EPS $8.94. Guidance initiated.

Period: full-year 2023
Revenue: $107.4 billion
EPS: $8.94
Guidance: initiated
Result: reported results

Exact text from the filing

Operating income was $1.9 billion in fourth quarter 2023, an increase of 60.9 percent from $1.2 billion in 2022. Full-year sales decreased 1.7 percent to $105.8 billion from $107.6 billion last year, reflecting a 3.7 percent decrease in comparable sales partially offset by sales from non-mature stores and an additional week in 2023. – more – Target Corporation

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TARGET CORP reported fourth quarter 2023 results: revenue $31.9 billion, EPS $2.98. Guidance initiated.

Period: fourth quarter 2023
Revenue: $31.9 billion
EPS: $2.98
Guidance: initiated
Result: reported results

Exact text from the filing

declined 4.4 percent in the fourth quarter, reflecting comparable stores sales declines of 5.4 percent and a comparable digital sales decline of 0.7 percent. Total revenue of $31.9 billion grew 1.7 percent in the fourth quarter compared with 2022, driven by sales growth of 1.6 percent and a 9.8 percent increase in other revenue. Sales growth reflected an additional

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Source: SEC EDGAR

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