Target upbeat after 'healthy' start to the year, shares spark
Shares in Target Corporation sparked on Tuesday, after the big box retailer posted stronger-than-expected fourth-quarter earnings and flagged a strong start to the current year.
Source: Sharecast
The US chain, which is midway through a turnaround programme, saw net sales fall 1.5% in the three months to 31 January, to $30.45bn, with comparable sales down 3.9%. However, adjusted earnings per share rose to $2.44 from $2.41 a year earlier, comfortably ahead of Wall Street forecasts for $2.16bn.
Target also flagged a strong start to the current year, with a "healthy, positive" sales increase in February.
Group net sales were forecast to grow by around 2% this year, with growth expected every quarter. Annual adjusted EPS was predicted to come in between $7.50 and $8.50. Annual adjusted EPS was $7.57 in 2025, on net sales of $104.8bn
As at 1445 GMT, the New York-listed stock had put on 5%.
Chief executive Michael Fiddelke acknowledged it had been a "challenging year", but said the business was now positioned for profitable growth from 2026 onwards.
He continued: "Our team is firmly focused on writing Target’s next chapter of growth, rooted in strengthening our merchandising authority, delivering an elevated and differentiated shopping experience, advanced use of technology and continuing to serve and invest in our team and communities.
"Target saw a healthy, positive sales increase in February, serving as an important milestone in our path back to growth this year."
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