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Target rises strongly after posting record second quarter profit


The titles of Target They rise strongly on Wall Street this Wednesday after presenting results. The distribution company has shot up 12.67% and is one of the most prominent in the US stock market after achieving a record profit in the second quarter: 1.69 billion dollars, or 3.35 dollars per share.

Figures that are well above those harvested by Target in the same period last year, when it earned $ 938 million, or $ 1.82 per share. It also reported that adjusted earnings per share reached $ 3.38 per share, also a record figure, while the FactSet consensus expects EPS of $ 1.63 / share.

Revenues, meanwhile, amounted to $ 22.98 billion, above the 18,420 million last year and also ahead of the forecasts of the FactSet consensus, which estimated them at 19,970 million, according to Marketwatch.

The firm's comparable sales have soared between April and June by 24.3%, and Comparable digital sales have almost tripled, rising 195%. On the other hand, comparable sales in stores have increased by 10.9%. The retailer also added 10 million new digital customers in the first half of the year.

"In today's environment, each of our categories is doing very well," said Brian Cornell, Target CEO. The apparel industry took the biggest turn, according to Cornell, from a 20% decline in the first quarter to double-digit growth in the second. Households are up over 30% and electronics are up over 70%.


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