Target Shares Jump on 40% Net Income Growth and Improved Sales Trends
Sectors & Industries
August 26, 2024
Table of Contents
Target shares surged after the retailer reported second-quarter earnings that exceeded expectations, with revenue of $25.42 billion, up 2.6% year-over-year.
Comparable store sales grew 2%, and digital sales rose 8.7%.
Net income increased by 40% to $1.19 billion. Target raised its full-year earnings per share forecast, citing strong second-quarter results, improved discretionary sales trends, and reduced shrink (theft).
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