Target: raises FY EPS targets

(CercleFinance.com) - Based on its H1 performance, Target says it now expects its annual adjusted EPS of $9 to $9.
70, up from its previous target range of $8.60 to $9.60.

However, the discount retailer now expects annual LFL sales growth to be more likely in the lower half of its target range, maintained at between 0 and 2%.

Target posted Q2 adjusted EPS of $2.57, compared with $1.80 a year earlier, with an operating margin that improved 1.6 point to 6.4% on sales that rose 2.7% to $25.5bn (+2% on a comparable basis).

Our growth was driven entirely by store traffic and our digital channels, with double-digit growth in our same-day delivery services, says CEO Brian Cornell.


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