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Stronger-than-expected Q3 earnings for Target

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Miguel A. Rodriguez
Miguel A. Rodriguez
18 November 2020
Target crushed expectations in Q3

One of Walmart’s competitors – Target reported Q3 2020 earnings that beat every expectation.

In Q3, Target had a $1.01 billion net income, considerably higher than the $714 million posted in Q3 2019. The EPS came in at $2.79, ahead of the $1.60 forecasted.

The company’s revenue surged 21% in the quarter to $22.63 billion, topping the $20.93 billion consensus. Also, it came in higher than last year’s $18.67 billion.

Moreover, its curbside pickup service – Drive Up surged more than 500% in Q3. At the same time, the same-store sales went up 9.9%.

To secure its spot in the beauty and apparel sectors, Target will open more than 100 smaller versions of Ulta Beauty shops inside its stores.

Now, Target is looking forward to the upcoming holiday season and expects the sales to grow as people are to decorate their homes and buying gifts for their loved ones.

Following the report, Target stock price gained 3%.

Read here how Walmart has performed in the past quarter!

Sources: cnbc.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.