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DeXiao
2021-08-18

Target tops comparable sales estimates, sees no slowdown due to Delta variant

Target reports comparable sales rose 8.9% inQ2against the tough pandemic comparable from a year ago.

Target tops comparable sales estimates, sees no slowdown due to Delta variant

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All five core merchandise categories delivered positive comparable sales during the quarter. TGT&nbsp;says it is not seeing any slowdown due to the Delta COVID variant.</p>\n<p>Gross margin rate fell 50 bps to 30.4% of sales in Q2, reflecting pressure from higher merchandise and freight costs and the comparison over last year's change in the sales return reserve estimate.</p>\n<p>Looking ahead, Target (TGT) does not expect to hit a wall with growth. \"Even after unprecedented growth over the last two years, we see much more opportunity ahead of us, and we're leaning into opportunities to invest in the long-term growth and resiliency of our business,\" notes CEO Brian Cornell. Looking ahead, the retailer expects high single-digit growth in comparable sales and full-year operating income margin rate of 8% or higher. 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All five core merchandise categories delivered positive comparable sales during the quarter. TGT ...</p>\n\n<a href=\"https://seekingalpha.com/news/3731729-target-tops-comparable-sales-estimates-sees-no-slowdown-due-to-delta-variant\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TGT":"塔吉特"},"source_url":"https://seekingalpha.com/news/3731729-target-tops-comparable-sales-estimates-sees-no-slowdown-due-to-delta-variant","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1152812573","content_text":"Target reports comparable sales rose 8.9% inQ2against the tough pandemic comparable from a year ago. All five core merchandise categories delivered positive comparable sales during the quarter. TGT says it is not seeing any slowdown due to the Delta COVID variant.\nGross margin rate fell 50 bps to 30.4% of sales in Q2, reflecting pressure from higher merchandise and freight costs and the comparison over last year's change in the sales return reserve estimate.\nLooking ahead, Target (TGT) does not expect to hit a wall with growth. \"Even after unprecedented growth over the last two years, we see much more opportunity ahead of us, and we're leaning into opportunities to invest in the long-term growth and resiliency of our business,\" notes CEO Brian Cornell. Looking ahead, the retailer expects high single-digit growth in comparable sales and full-year operating income margin rate of 8% or higher. Over the long term, Target sees keeping with its long-standing capital deployment goals.\nShares of Target (TGT) aredown 3.68%premarket after falling 2.90% yesterday. The stock is still up more than 40% YTD to easily outpace the returns on Walmart and Costco. 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