Target outperformed expectations for the fourth quarter, as people bought more
Target reported an adjusted EPS of $2.67 on revenues of $28.34 billion for the fiscal fourth quarter of 2020. At the same time, net income rose 66% to $1.38 billion.
The increases could be attributed to keeping their shops open, unlike some of its main competitors, such as Macy’s and Kohl’s, which shut down multiple locations across the US. Also, Target offered a more extensive range of products from cereals to workout clothes.
Additionally, same-day services have been widely popular among clients. Drive-Up, Target’s curbside pickup service, reported a 500% increase, while home deliveries grew 212%.
In 2020, the company’s sales increased by more than $15 billion – higher than its total sales growth over the prior eleven years.
No predictions were made about the future, given that the COVID-19 pandemic made it difficult to forecast consumer patterns.
Following the report, Target stock price went up 1%. Over the past year, Target stock price added nearly 81%, pushing the market valuation at $93.19 billion.
Source: cnbc.com
Los usuarios / lectores no deben confiar únicamente en la información presentada aquí y deben hacer su propia investigación / análisis leyendo también la investigación subyacente real. El contenido adjunto es genérico y no tiene en cuenta las circunstancias personales, la experiencia de inversión o la situación financiera actual.
Por lo tanto, Key Way Investments Ltd no aceptará ninguna responsabilidad por las pérdidas de los comerciantes debido al uso y el contenido de la información presentada en este documento. Rentabilidades y predicciones pasadas no garantizan resultados futuros.
