Target (TGT, $78.51) crushes Q1 estimates, on strong growth in same-store & digital sales
Target Corp. earnings surpassed analysts’ expectations for the first quarter. The retail behemoth also reiterated its guidance for the full-year.
Adjusted earnings for the three months ending in April came in at $1.53 per share, which represents a +15% surge from the same period last year and is higher than analysts’ estimates of $1.43 per share (based on Refinitiv data).
Total revenue increased just under +1% to $17.63 billion, exceeding analysts' estimates of $17.52 billion. The +4.8% growth in same-store sales, beating estimates of +4.2%, marked the company’s ninth consecutive quarterly increase.
Target’s comparable digital sales soared +42% year-over-year. Online sales now account for 7.1% of Target’s retail sales, up from 5.2% a year ago.
For full fiscal year 2020 (ending in early January), Target expects low to mid-single digit growth for same store sales. It projects both adjusted and GAAP earnings of $5.75 to $6.05 per share for the year, in line with its earlier expectations.
TGT in upward trend: 10-day moving average moved above 50-day moving average on August 23, 2024
The 10-day moving average for TGT crossed bullishly above the 50-day moving average on August 23, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 12 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
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Notable companies
The most notable companies in this group are Walmart (NYSE:WMT), Costco Wholesale Corp (NASDAQ:COST), Target Corp (NYSE:TGT), Dollar General Corp (NYSE:DG), Dollar Tree (NASDAQ:DLTR), Big Lots (NYSE:BIG).
Industry description
Companies in the discount stores industry specialize in offering substantial discounts on a vast array of retail products. Some companies in this industry also operate general merchandise warehouse clubs. Products sold at discount stores are typically similar to those of any department store, but the pricing of the goods is generally much lower (and hence the name “discount”). Think Dollar General Corporation, Dollar Tree, Inc. and Five Below, Inc. Many discount stores target low-income households and/or price-sensitive consumers as their potential market. Discount stores’ profitability could hinge on factors like competitive pricing, sufficient locations, healthy revenue per square foot, and effective advertisement. These store operators could have an edge over other retailers during financial crises or recessions, when many consumers could be looking for less expensive alternatives.
Market Cap
The average market capitalization across the Discount Stores Industry is 76.64B. The market cap for tickers in the group ranges from 1.78K to 616.05B. WMT holds the highest valuation in this group at 616.05B. The lowest valued company is TUEMQ at 1.78K.
High and low price notable news
The average weekly price growth across all stocks in the Discount Stores Industry was -4%. For the same Industry, the average monthly price growth was -4%, and the average quarterly price growth was -8%. OLLI experienced the highest price growth at 1%, while BIG experienced the biggest fall at -21%.
Volume
The average weekly volume growth across all stocks in the Discount Stores Industry was -29%. For the same stocks of the Industry, the average monthly volume growth was 87% and the average quarterly volume growth was 58%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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