Target stock is rising after another monster quarterly report
Posted by nainternational on November 21st, 2019
Based on the facts and figures that were issued by Target for their third quarter, it is going to be a very merry Christmas for shareholders in the company. For the second quarter consecutively Target, smashed expectations by Wall Street analysts. The company blew sales, earnings, same store sales, and gross profit margin projections out of the water, with online sales surging in the quarter by over 30%. Alongside their great performance this quarter, Target also meaningfully increased their full year guidance, which was great news for shareholders.
With these exceptional results, Target is increasing its market share in the retail sector, and the companies stores are progressing into a new era. CEO of the company Brian Cornell confirmed in a call with analysts that their remodeled stores, are one of the key factors that have boosted sales. There is a whole new host of products and food brands that have partnered with the store. With new lines of apparel, Target saw same store sales pop over 10% in the quarter, alongside food same store sales rising almost the same.
And same-day delivery services are boosting those inclined to shop online.
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Joined: October 30th, 2019
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