Target Corporation (TGT) - NYSE
  • Thu, Jul. 7, 9:59 AM
    • Target (TGT -0.4%) is launching a new kids brands later this month in a major bet that it has a good read on the styles coveted by the pre-teen set.
    • Cat & Jack will replace Circo and Cherokee in a move toward a splashier, on-trend assortment (neon and graphics over logos). Kids clothing is one of the four so-called signature categories for the company where it sees sales growth potential and margin opportunities.
    • Bloomberg reports that Target has cut some lean deals with its Asia-based Cat & Jack suppliers, while adding flexibility.
    • Cat & Jack will launch on July 17. Toddler sizes will be available on August 7. A sneak preview is available on a special page on Target's website.
    | Thu, Jul. 7, 9:59 AM | 11 Comments
  • Wed, Jun. 8, 9:14 AM
    • Shares of Target (NYSE:TGT) are on the move after the company fired off a pretty sizable dividend increase. The new yield of 3.5% compares favorably in the retail sector.
    • Last quarter, Target returned $336M to shareholders in dividend payments and invested almost $900M in share repurchase.
    • Previously: Target declares $0.60 dividend (June 8)
    • TGT +1.11% premarket to $68.98.
    | Wed, Jun. 8, 9:14 AM | 25 Comments
  • Wed, May 18, 10:08 AM
    • Retail stocks are lower than broad market averages after Target (TGT -9.3%) sets a gloomy tone on U.S. consumer spending. There was a sense of bewilderment from Target in its release and earnings call commentary over the slowdown in sales post-Easter.
    • Wal-Mart is down an even 3% to reach a multi-month low ahead of tomorrow's earnings report.
    • Shares of Best Buy (NYSE:BBY) are 3.2% lower after the soft read from Target tilts sentiment. The electronics chain reports earnings on May 24 with analysts expecting revenue of $8.291B and EPS of $0.35 to be disclosed.
    • Other chain store stocks reeling after the Target release are Conn's (CONN -0.1%), hhgregg (HGG -2.4%), Sears Holdings (SHLD -3.1%), GameStop (GME -1.6%), Bon-Ton Stores (BONT -2.3%), Dollar Tree (DLTR -2.1%), Big Lots (BIG -2.4%), Dollar General (DG -1.5%), Citi Trends (CTRN -7.4%), and PriceSmart (PSMT -2.9%).
    • Previously: Investors edgy over retail stocks after Target disappoints (May 18)
    • Previously: Target stung by low traffic trend (May 18)
    | Wed, May 18, 10:08 AM | 5 Comments
  • Wed, May 18, 9:15 AM
    | Wed, May 18, 9:15 AM
  • Wed, May 18, 8:36 AM
    • Target (NYSE:TGT) reports comparable-store sales increased 1.2% in Q1. The comp gain was split evenly between stores and e-commerce.
    • Key sales stats: Number of transactions +0.3%. Average transaction amount increased 0.9%. Units per transaction fell 2.0%. Selling price per unit +2.9% Y/Y.
    • Gross margin rate +50 bps to 30.9%.
    • EBITDA margin rate was 8.2%.
    • Digital sales rose 23% vs. +34% in Q4.
    • SG&A expenses rate -50 bps to 19.4%.
    • RedCard penetration +190 bps to 23.4%.
    • Strong categories during the quarter were style, baby, kids, and wellness.
    • Guidance: Target sees Q2 EPS of $1.00-$1.20 vs. $1.36 consensus.
    • TGT -7.2% premarket to $68. Shares were already down about 6% in the week in front of the earnings release.
    • Previously: Target beats by $0.09, misses on revenue (May 18)
    | Wed, May 18, 8:36 AM | 41 Comments
  • Thu, Mar. 3, 12:02 PM
    • Procter & Gamble (PG +0.1%) and Target (TGT -2.6%) both landed on Merrill Lynch's High-Quality Dividend Yield Screen list.
    • Both stocks also look solid to BAML on a fundamental view with P&G poised to see some F/X relief and Target benefiting from low gas prices in the U.S.
    • The pair are outperforming the S&P 500 Index on the year by a wide margin as investors continue to push into consumer staples.
    • Previously: Edgy investors push a mix of consumer staples stocks to fresh highs (Feb. 27 2016)
    | Thu, Mar. 3, 12:02 PM | 6 Comments
  • Wed, Feb. 24, 8:18 AM
    • Target (NYSE:TGT) reports comparable-store sales increased 1.9% in Q4. More than half of the comp gain was generated by e-commerce growth.
    • Key sales stats: Traffic was up 1.3% during the quarter. Average transaction amount increased 0.6%. Units per transaction fell 1.3%. Selling price per unit +2.0% Y/Y.
    • Gross margin rate -60 bps to 27.9%.
    • EBITDA margin rate was flat Y/Y at 9.8%.
    • Digital sales rose 34% to smash the pace seen at Wal-Mart (+8%) and beat Amazon (+26%) on a less direct comparison.
    • SG&A expenses rate -50 bps to 18.1%.
    • RedCard penetration +190 bps to 23.0%.
    • Strong categories during the quarter were style, baby, kids, and wellness.
    • Guidance: Target sees full-year EPS of $5.20-$5.40 vs. $5.16 consensus.
    • Previously: Target misses by $0.02, misses on revenue (Feb. 24 2016)
    • TGT -1.34% premarket to $73 on light volume.
    | Wed, Feb. 24, 8:18 AM | 5 Comments
  • Wed, Feb. 24, 8:02 AM
    • Target (NYSE:TGT): Q4 EPS of $1.52 misses by $0.02.
    • Revenue of $21.63B (-0.6% Y/Y) misses by $120M.
    • Shares +1.73% PM.
    • Press Release
    | Wed, Feb. 24, 8:02 AM | 2 Comments
  • Tue, Jan. 26, 1:18 PM
    • Mall stocks are solidly ahead of broad market averages as investors key off today's strong read on consumer confidence. A decent report from Redbook on chain store sales is also in the mix.
    • Gap (GPS +4.7%), American Eagle Outfitters (AEO +4.8%), Tilly's (TLYS +5.8%), Children's Place (PLCE +4.5%), Buckle (BKE +5.3%), and Urban Outfitters (URBN +3.7%) are all taking back ground lost earlier this year.
    • The gains are slightly less for department store chains J.C. Penney (JCP +2.4%), Kohl's (KSS +2.6%), and Macy's (M +2.7%).
    • Best Buy (BBY +3.5%) and Target (TGT +2.3%) are also trying to break out.
    • Previously: Consumer confidence improves 1.8 points in January (Jan. 26)
    • Previously: Weather plays a mixed role (Jan. 26)
    | Tue, Jan. 26, 1:18 PM | 2 Comments
  • Thu, Jan. 7, 10:14 AM
    • A large number of retail stocks are defying the global market sell-off to put in strong gains.
    • The unexpected strength follows a few store chains reporting solid holiday sales growth, headlined by L Brands with a stellar 8% comp. The underlying story behind the good read may be that $2 gas prices are helping to feed consumer spending at U.S. store chains.
    • Gasbuddy.com forecasts gas prices will stay low in the U.S. for all of 2016.
    • Notable gainers include Wal-Mart (WMT +2%), Target (TGT +1%), Gap (GPS +2.3%), Fred's (FRED +1.2%), Express (EXPR +1.1%), American Eagle Outfitters (AEO +1.6%), Tilly's (TLYS +2.3%), Urban Outfitters (URBN +4%), TJX Companies (TJX +0.6%), Ross Stores (ROST +1.6%), Kohl's (KSS +2%), Stein Mart (SMRT +4.4%), Citi Trends (CTRN +1.7%), Buckle (BKE +4.8%).
    • Related ETFs: XLP, XLY, VDC, XRT, VCR, RTH, RETL, FXG, FXD, FDIS, RHS, FSTA, RCD, PMR, BITE
    | Thu, Jan. 7, 10:14 AM | 15 Comments
  • Dec. 16, 2015, 8:12 AM
    • The $1.9B deal has CVS Health (NYSE:CVS) adding Target's (NYSE:TGT) 1,672 pharmacies across 47 states, and CVS will operate them through a store-within-a-store format, branded as CVS/pharmacy. In addition, this brand will be included in all new Targets offering pharmacy services, and 79 Target clinic locations will be rebranded as MinuteClinic.
    • Target will recognize a pretax gain of $575M-$775M in Q4 (though will be excluded from adjusted EPS). Q4 revenues will be cut by about $500M.
    • The sale isn't expected to change Q4 comp sales.
    • After-tax net proceeds will be about $1.2B, which will be deployed over time into capital priorities, including buybacks. The deal is expected to be accretive to EBITDA and EBIT margin rates, and had 50 basis points or more to return on invested capital over time.
    • This deal and more will be discussed at CVS' investor day today.
    • TGT +0.9%, CVS +2.05% premarket.
    • See also: CVS raises its outlook and boosts the dividend.
    | Dec. 16, 2015, 8:12 AM
  • Nov. 30, 2015, 12:55 PM
    • It's not a happy Cyber Monday for most retail chain stock on broad concerns over soft store traffic and weak pricing.
    • Notable decliners include Guess (GES -5.5%), Express (EXPR -4.6%), Zumiez (ZUMZ -7%), Foot Locker (FL -1.7%), Finish Line (FINL -2.1%), Urban Outfitters (URBN -4.4%), Francesca's (FRAN -2.9%), DSW (DSW -2.7%), and Men's Wearhouse (MW -3.3%).
    • Discounters are down sharply, led by Big Lots (BIG -5.4%), Gordmans Stores (GMAN -6%), and Five Below (FIVE -4.3%).
    • Big box retailers Wal-Mart (WMT -1.3%), Costco (COST -1.4%), and Target (TGT -1.4%) are lower with concerns over website capabilities lingering in the background. Best Buy (BBY +1.1%) is a bit of a surprise with a 1.4% gain after reports indicate demand for Apple products is exceptionally strong.
    • Specialty retailers such as The Container Store (TCS +1.6%), Party City (PRTY +1.2%), and The Michaels Companies (MIK +1.4%) are also retail outliers as consumers are seen spending a higher percentage of their disposable income close to their homes.
    • Previously: Retail stocks on watch after Amazon scoops up more Black Friday sales (Nov. 30 2015)
    • Previously: Department stores stocks weak on holiday sales anxiety (Nov. 30 2015)
    | Nov. 30, 2015, 12:55 PM | 11 Comments
  • Nov. 20, 2015, 11:47 AM
    • The S&P Retail ETF (NYSEARCA:XRT) is up 1.9% with apparel and footwear stocks doing much of the heavy lifting.
    • A vibrant rally in sports stocks was sparked by earnings reports and Nike. Iconix Brand (ICON +2.5%), G-III Apparel (GIII +3%), DSW (DSW +3.7%), Finish Line (FINL +3.1%), Caleres (CAL +2.2%), Genesco (GCO +3.5%), and Shoe Carnival (SCVL +1.7%) join the list reported on earlier.
    • Luxury names are on the move with Kate Spade (KATE +2%), Fossil (FOSL +2.9%), Coach (COH +1.4%), and Movado (MOV +2.7%) higher.
    • The beat-up mall retailer group is also recovering after results from Gap (GPS +6%) and Abercrombie & Fitch (ANF +19.4%) topped worst-case scenarios. American Eagle Outfitters (AEO +2.3%), Guess (GES +4.6%), and Pacific Sunwear (PSUN +5.4%) are notable gainers.
    • Big box retailers are the laggards today. Wal-Mart, Target (TGT +0.6%), and Costco (COST +0.6%) are right at market index averages.
    | Nov. 20, 2015, 11:47 AM | 2 Comments
  • Nov. 18, 2015, 8:13 AM
    • Target (NYSE:TGT) reports comparable-store sales increased 1.9% in Q3. The mark was a slight deceleration from the 2.4% comp in Q2.
    • Traffic was up 1.4% during the quarter.
    • Selling price per unit +2.5% Y/Y.
    • Growth in the Style, Baby, and Kids and Wellness categories increased 2.5X the company average.
    • Gross margin rate -10 bps to 29.4%.
    • EBITDA margin rate +20 bps to 8.6%.
    • Digital sales rose 20% to account for 2.7% of all sales.
    • SG&A expenses rate -40 bps to 20.7% as cost discipline remained strong.
    • RedCard penetration +130 bps to 22.3%.
    • Total store count +4 Y/Y to 1,805.
    • Guidance: Q4 EPS of $1.48-$1.58 expected vs. $1.54 consensus. 2015 EPS of $4.65-$4.75 forecast vs. $4.60-$4.75 prior and $4.72 consensus.
    • TGT +2.62% premarket to $74.85.
    | Nov. 18, 2015, 8:13 AM | 16 Comments
  • Nov. 18, 2015, 8:03 AM
    • Target (NYSE:TGT): Q3 EPS of $0.86 in-line.
    • Revenue of $17.61B (+2.1% Y/Y) beats by $40M.
    • Shares +1.8% PM.
    | Nov. 18, 2015, 8:03 AM
  • Nov. 13, 2015, 8:31 AM
    • J.C. Penney (NYSE:JCP) reported a lighter than expected Q3 loss, better than expected sales growth and raised profit estimates for the year, but shares nevertheless are -3.3% premarket as other mall-based retailers have warned about weak consumer spending.
    • JCP says its Q3 comparable sales at locations open for at least a year rose 6.4% Y/Y, beating expectations, but does not raise its forecast for full-year sales, reaffirming 2015 guidance for comp store sales to increase 4%-5%.
    • JCP says all merchandise divisions had positive comp sales gains over last year, with men's, home, footwear, handbags and Sephora among the top performing divisions.
    • Q3 gross margin rose to 37.3% from 36.6% a year earlier, helped by improvements in clearance and promotions.
    • JCP says it now expects adjusted EBITDA of $645M, up from its August estimate of $620M.
    • In premarket trading among peers, JWN -20.2%, TJX -4%, M -1.3%, TGT -1.5%, KSS -2%.
    | Nov. 13, 2015, 8:31 AM | 16 Comments
Company Description
Target Corp. engages in owning and operating of general merchandise stores. It also operates SuperTarget stores with a line of food and general merchandise items and offers an assortment of general merchandise, including many items found in the company's stores and a complementary assortment,... More
Sector: Services
Industry: Discount, Variety Stores
Country: United States