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Target higher on earnings beat

Published 11/16/2016, 06:54 AM
Target higher on earnings beat
TGT
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  • Target (NYSE:TGT) reports comparable-store sales fell 0.2% in Q3.
  • Digital channel sales rose 26% for the quarter.
  • Key sales stats: Number of transactions: -1.2%; Average transaction amount: +1%; Selling price per unit: +3.5%; Units per transaction: -2.5%.
  • Gross margin rate improved 80 bps to 30.2%.
  • SG&A expenses rate -40 bps to 20.3%.
  • EBITDA margin rate expanded 130 bps to 9.9%.
  • EBIT margin rate grew 90 bps to 6.4%.
  • REDcard penetration +200 bps to 24.3%.
  • Number of stores -5 Y/Y to 1,800.
  • Q4 Guidance: Comparable sales: -1% to +1%; GAAP and Adjusted EPS: $1.55 to $1.75.
  • FY2016 Guidance: GAAP EPS: $4.67 to $4.87; Adjusted EPS: $5.10 to $5.30.
  • TGT +6.09% premarket.

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