CAPEX.com
CAPEX.com

Article Hero

Stronger-than-expected Q3 earnings for Target

1605708861.jpg
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 prepared by capex.com/za 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financial adviser as needed, before dealing in any financial products mentioned in this document.This information may not be published, circulated, reproduced, or distributed in whole or in part to any other person without the Company’s prior written consent.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 capex.com/zaJME 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?

Awful
Ok
Great
Awesome

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.