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Target (NYSE:TGT) Performs Quite Well During The Third Quarter

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The famous American retailer Target Corporation (NYSE:TGT) released it reports for the Q2 of 2014 on Wednesday before the markets opened. The retail company showed excellent progress with revenues of $17.73 billion and earnings per share (EPS) of about $0.54 in comparison with last year’s Q2 reports which had earnings per share of $0.56 and an income of $17.26 billion. Meanwhile the estimates for this year’s quarter by Thomson Reuters were at earnings per share of $0.42 and incomes of $17.56 billion.

 

So, the company did perform better than was expected. However, owing to some mishaps like the recent data breach; the company (NYSE:TGT) had to deduct some costs from the quarter revenues (about $12 million). In fact Target (NYSE:TGT) has taken almost $186 million as pretax charges after the data breach which occurred last year. While based on generally assisted accounting principles the company (NYSE:TGT) had made an EPS of up to $0.55.

 

Moreover, the company (NYSE:TGT) presented estimates for its Q3’s adjusted earnings per share which will be in the range of 0.4 to 0.5 dollars. This range is quite low than the predicted average for the quarter ahead (i.e. EPS of $0.65). Besides, the company has plans to hit the annual target of $3.1 to $3.3 earnings per share, which is a bit different than Target’s (NYSE:TGT) previous estimate reports which suggested an EPS of $3.6 to $3.9, while the consensus is hoping $3.49.

 

Moreover Target’s (NYSE:TGT) CEO added in one of his speeches that the team is quite satisfied with the company’s performance during the third quarter, and it managed to show better than expected results. In fact the success in the American sector has induced a sense of courage and faith within the company (NYSE:TGT), and we are now aiming at higher goals. He is sure that their latest strategies will help in keeping this rhythm.

If we look at the Canadian sector there are improvements all around and it won’t take long when they’ll flourish in Canada and manage to give the best during the holiday season.

 

Broadly speaking the company (NYSE:TGT) witnessed better results during this quarter, when the sales in the US region rose through 1.2% compared to last year. The company (NYSE:TGT) can relate this increase in sales and growth to higher prices and expensive transactions. Moreover, most of the revenue was generated from either the brick and mortar sector or the digital sector. However, we did see temporary offset issues because lesser transactions and lesser items per transactions happened.

 

Well it seems that the company (NYSE:TGT) is quite sure about their expectations and this approach can be seen in their three month old estimates and the current third quarter results. As for the latest news, Target’s (NYSE:TGT) stocks were priced at $69.75 per share; which is an increase of almost 3.3% which are much better estimates than suggested by Thomson Reuters ($61 per share) with stocks of 52 week at $54.66 to $68.28.

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