Target: Q1 EPS below expectations

(CercleFinance.com) - Target has reported Q1 adjusted EPS that is down over 60% at 59 cents, two cents short of the consensus, with an operating margin that is down four points at 2.
4%.

However, revenues rose by 11.3% to 19.6 billion dollars, including 10.8% like-for-like growth, supported by a 141% leap in online sales, reflecting the impact of the Covid-19 pandemic.

Uncertainties related to the health crisis have moreover led the discount store chain to withdraw its annual targets in March, with Target specifying that it still cannot provide any forecasts at this stage.


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