Target (NYSE:TGT) Beats Analysts Fears
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Reporting its quarterly earnings for this fiscal year, Target (NYSE:TGT) has managed to prove the analysts’ expectations wrong as the company’s share price has increased in the trade market. Earlier this year, reporting its third quarter earnings Target (NYSE:TGT) showed that the company’s price per share slipped from 56 cent share price to 54 cent share price. But the revenue of Target (NYSE:TGT) increased from $17.26 billion to $17.73 billion last year. A consensus showed by Thomas Reuters suggested that analysts were predicting Target (NYSE:TGT) to show a post earnings of 47 cents per share on the revenue of $17.56 billion.
In united states, Target (NYSE:TGT) has 1801 stores and in Canada there are 133 stores. It is also planning to hire 70,000 workers for the upcoming holiday shopping season. Target (NYSE:TGT) is trying to improve its image which seems to have suffered a massive setback after there was a huge data breach in the company’s stores during the last holiday season, that ended with several customer accounts getting compromised to malice users. The company is trying to offer more benefits and services to its customers, such as offering free shipping to its clients on online orders before the holiday period starts. It has also tried to make it more convenient for its customers by collaborating with Apple (NASDAQ:APPL) Pay support and providing payment system services in its mobile stores.
Target (NYSE:TGT) also used c-innovative marketing strategy by trying generate interest in its younger consumers by showing presence on social media and making it easy for public to access the company products online. In late august this year, Target (NYSE:TGT) and Nordstrom both collaborated with a firm specializing in its marketing and analytics. The main goal of this team was to allow Instagram users to purchase the Target (NYSE:TGT) products directly from the news feed of the Instagram application by clicking on the different images of products on the company profile. Also, if the image of the products were liked, it saved the featured item in the potential customers mobile, hence if they decided to make a purchase later, they could easily find the specific product.
Brian Cornell, the company’s new chairman and CEO will appear on CNBCs halftime report at 12:15 pm ET to reveal more on the latest agendas Target (NYSE:TGT) is harbouring to better its sales and revenue during the current quarter.
Target (NYSE:TGT) has a tough competition to face due to several new businesses entering in to the retail market. These new entrants are stiffing the competition for the old players of the field with their innovation and attract consumers as they have a desire to witness some place that is different and radical.
Target (NYSE:TGT) has been finding its global expansion a little harder than it had anticipated. Canada hasn’t opened its arms to Target (NYSE:TGT), as the retailer had hoped. The retailer is being considered too expensive when compared with local retailers, and hence, has failed to draw the customer numbers it had hoped.