Article Hero

Outstanding Q2 earnings for Target

Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
The pandemic had nothing on Target

Target posted Q2 earnings that left Wall Street speechless. 

The pandemic pushed people to online shopping, which elevated the company's profit by 80.3% to $1.7 billion. The overall digital sales, including curbside pickup and delivery, increased by 195%. 

One of the US’s favorite retailers had revenues of $23 billion, surpassing the expected $20.09 billion. The adjusted EPS came in at $3.38 per share. Analysts were looking for $1.62/share.

Same-store sales reported a growth of 24.3%, more than three times higher than the 7.6% forecasted.

Target reported a 70% increase in sales of electronics. The smallest increase was in food and beverage segments – 20%.

As far as its user-base is concerned, it added 10 million new customers.

For the rest of the year, Target didn't project any figures given the pandemic's uncertainty.

Following the report, Target stock price surged almost 13%, bringing the company's market cap at $77 billion. 

See how other American retailers have done in Q2 on!


This information prepared by is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation, or the particular needs of any recipient.You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation, or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.This information may not be published, circulated, reproduced, or distributed in whole or in part to any other person without the Company’s prior written consent.
Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of Financial Services (Pty) Ltd trading as CAPEX.COM/ZA acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via CAPEX.COM/ZA, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15.  Magnasale Trading Ltd is the principal to the CFD purchased by investors.

Share this article

How did you find this article?


Read More

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.