Target Corporation (NYSE:TGT) Generates a Healthy Third Quarter
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Target Corporation (NYSE:TGT) posted its sales and earnings record for the third quarter. It’s really hard to brag when your comparable store sales grew by 1.2 percent only but that doesn’t mean you are not on the positive path. Target Corporation (NYSE:TGT) is floating well amidst a tense and highly competitive retail environment. The company’s earnings per share stood at 54 cents per share which is more than the market estimate of 50 cents per share.
Courtesy to the company’s cartwheel app, digital sales shot up by 30 percent while mobile sales grew by 50 percent. Different events such as Halloween pushed the in-store sales; incentives and sales promotions attracted the customers in hoards. Health products and beauty products contributed to the rise in sales. Toys resulted in overwhelming sales especially during Halloween and other seasonal events. The holiday season is drawing near, which means the company can look forward to a healthy profit.
The company’s management stated that Target Corporation (NYSE:TGT) will be looking for expansion in the next few years, especially Canada. Customer exit interviews indicated that there was a mixed response generated from the in-store sales. Target Corporation (NYSE:TGT)’s profit largely relies upon its supply chain ability to match the demand in the market. The next quarter would reveal the company’s potential in Canada.
Target Corporation (NYSE:TGT) has come a long way since its data breach; the plans for 4th quarter include increase in store sales by 2 percent atleast. The fourth quarter will be more competitive than the previous quarters, even though gas prices would fall and consumers would remain cautious about spending. Target Corporation (NYSE:TGT) has also started to give free shipping which is contributing to the momentum of sales. Initially the offer was that it would give out free shipping over orders of 50 dollars and above, but that has changed to 100% free.
There are still concerns voiced over by investors regarding Target Corporation (NYSE:TGT)’s unmet expectations and customer frustration which has been brewing up for quite some time now. Target Corporation (NYSE:TGT) isn’t really in a tight spot but it isn’t formidable either. Retail business can be very risky and competitive but considering the fact that Target Corporation (NYSE:TGT) has been doing quite well for itself means that it can stick around and make healthy profits.
Target Corporation (NYSE:TGT)’s capability will be decided in the next 45 days in which it will be decided whether the company has the ability to please its customers and enhance their confidence or not. We’re quite certain that Target Corporation (NYSE:TGT) is strong enough to deal with any sort of problems that arise. Target Corporation (NYSE:TGT) has the inventory, the stores and a corporate mindset that is second to none.
Target Corporation (NYSE:TGT) just needs to generate a couple of good quarters and then it will have the blessings and praise of its investors and customers. Time will reveal the progress of Target Corporation (NYSE:TGT) in the retail arena this time.