Target Q4 earnings beat analysts' forecasts across the board, skips 2021 guidance

Yahoo Finance2021-03-02

Another quarter in which Target (TGT) hit the bull's eye is in the books. The discount retailer thumped analyst forecasts across the board on Tuesday as consumers continued to consolidate their ...

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Maydelyn
2021-03-02
Maydelyn
Wow Target 👏🏻👍🏻 performance!
Birdnest
2021-03-02
Birdnest
Comment and like please
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  Please return the favour!
Kityee
2021-03-02
Kityee
Up
Dt1412
2021-03-02
Dt1412
Up
klchua78
2021-03-02
klchua78
Up Up Up!!! [财迷]

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Target's fourth quarter 2020 store comparable sales rose 6.9%, while comparable digital sales spiked 118%. Both metrics did show deceleration in terms of growth rates versus the third quarter, however.\n\"Following years of investment to build a durable, scalable and sustainable business model, we saw record growth in 2020, as our guests turned to Target to safely provide for their families throughout the pandemic,\" Target Chairman and CEO Brian Cornell said in a statement.\nHere's how Target performed in the fourth quarter of 2020 versus Wall Street estimates.\n\nNet Sales: $27.9 billion vs. $27.43 billion\nComparable Sales: +20.5% vs. +17.5%\nGross Margin: 26.80% vs. 26.31%\nOperating Margin: 6.50% vs. 6.05%\nAdjusted Diluted EPS: $2.67 vs. $2.45\n\nlf Target is to be dinged on its earnings day, it's the lack of an earnings outlook for 2021. Retailers such as Macy's and Best Buy have come out in recent weeks with sales and profit outlooks as a tiny bit of normalcy begins to return to consumer spending amidst the pandemic.\nTarget remains extra cautious.\n\"In the face of continued uncertainty, the company is not providing sales and EPS guidance for Fiscal 2021 and beyond,\" Target said.\nPhoto by: STRF/STAR MAX/IPx 2020 8/19/20 Target posts fastest sales growth ever wtih profits jumping 80% setting same-store sales record.STRF/STAR MAX/IPx\nThe company is likely to comment on current business trends at its investor day later on Tuesday. Several retailers including the aforementioned Macy's and TJX Companies have struck a bullish tone on year-to-date consumption, in large part because of stimulus check spending.\nNevertheless, it's unlikely the absence of 2021 guidance will shake the bull case on Target in the near-term. The company is viewed on the Street as a market share gainer during the pandemic that stands to keep its momentum (though to a lesser extent) once the world reopens.\n\"We believe Target remains a long-term winner. It will participate in the rebound in apparel and beauty spending (~27% of sales and helping against gross margin comparisons), and we believe its broad assortment spanning discount-priced consumables to cheap-chic apparel and home (e.g., see latest collaboration with Levi’s) will enable the company to retain many of the customers it acquired during the pandemic,\" said JPMorgan retail analyst Christopher Horvers ahead of Target's earnings.\nAdded Horvers, \"Moreover, a potential stimulus driven spending lift should ease the tough comp lap ahead while high savings rates, improving lower income employment, and millennium household formation portend a strong top line backdrop for Target this year.\"","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":365931785,"gmtCreate":1614687773947,"gmtModify":1703479861950,"author":{"id":"3577008220161864","authorId":"3577008220161864","name":"Maydelyn","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"Wow Target 👏🏻👍🏻 performance!&nbsp;","listText":"Wow Target 👏🏻👍🏻 performance!&nbsp;","text":"Wow Target 👏🏻👍🏻 performance!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/365931785","repostId":2116595396,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":365995631,"gmtCreate":1614687192323,"gmtModify":1703479853071,"author":{"id":"3574038201928781","authorId":"3574038201928781","name":"Birdnest","avatar":"https://static.tigerbbs.com/bed1c01074b674ae6b5cef94449eb9c3","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Comment and like please","listText":"Comment and like please","text":"Comment and like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/365995631","repostId":2116595396,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3697331,"gmtCreate":1614687239972,"gmtModify":1635759514127,"authorId":3554815368592867,"author":{"id":3554815368592867,"authorId":3554815368592867,"name":"pav","avatar":"https://static.tigerbbs.com/0aba91967ed3feb5ab1c0cffcb3c5b91","vip":1,"crmLevel":9,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":365995631,"type":1,"supId":0,"prevId":0,"content":"Please return the favour!","text":"Please return the favour!","html":"Please return the favour!"}],"langContent":"EN"},{"id":365992608,"gmtCreate":1614687122804,"gmtModify":1703479851520,"author":{"id":"3557371610472489","authorId":"3557371610472489","name":"Kityee","avatar":"https://static.tigerbbs.com/8cde092a6eaa4d6f4f73bfb5ec51e046","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Up","listText":"Up","text":"Up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/365992608","repostId":2116595396,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":365996824,"gmtCreate":1614687026968,"gmtModify":1703479849981,"author":{"id":"3569374301908252","authorId":"3569374301908252","name":"Dt1412","avatar":"https://static.tigerbbs.com/61f9dd5a09490dcc3db856532e674755","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Up","listText":"Up","text":"Up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/365996824","repostId":2116595396,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":365990431,"gmtCreate":1614686585623,"gmtModify":1703479844170,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Up Up Up!!! [财迷]&nbsp;","listText":"Up Up Up!!! [财迷]&nbsp;","text":"Up Up Up!!! [财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/365990431","repostId":2116595396,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":12,"commentSize":5,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.26.2","shortVersion":"4.26.2","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2116595396"}