Target Thinks Its Stock Is Cheap: Q3 Earnings Show Why
Like clockwork, Target (NYSE: TGT) delivered another rock-solid earnings report Wednesday morning.
In its third quarter, comparable sales jumped 12.7%, or a two-year comp of 36%. Performance was strong across the board, with store-based comps rising 9.7% and digital sales up 29%, easily outpacing peers like Amazon and Walmart in e-commerce growth. Comparable sales also grew by double-digit percentages in all five product categories, showing strong demand across the business.
Overall, net sales rose 13.2% to $25.3 billion, topping estimates at $24.8 billion. And adjusted earnings per share increased from $2.79 to $3.03, ahead of the consensus at $2.83.
Source Fool.com
