Home / Knowledge / News / Apparel/Garments / Adjusted EPS at Target Corp soars 20.6% in Q2FY16
Adjusted EPS at Target Corp soars 20.6% in Q2FY16
20
Aug '15
Adjusted earnings per share (EPS) from continuing operations for the three months to August 1, 2015 soared 20.6 per cent year over year to $1.22 at NYSE listed retailer Target Corporation.

“GAAP EPS from continuing operations were $1.21, compared with $0.61 in second quarter 2014,” a press release from Target Corp informed.

Second quarter of fiscal 2016 sales increased 2.8 per cent to $17.4 billion from $17.0 billion in the prior fiscal second quarter. Comparable sales combined with sales from new stores grew 2.4 per cent.

Target added that its digital channel sales surged 30 per cent from a fiscal ago period and contributed 0.6 percentage points to comparable sales growth.

Segment earnings before interest expense and income taxes (EBIT) were $1,350 million in the reporting quarter 2015, up 17.5 per cent from $1,149 million in the same quarter of previous fiscal.

EBITDA and EBIT margin rates were 10.9 per cent and 7.7 per cent, respectively in the quarter under review compared with 9.9 per cent and 6.8 per cent.

Second quarter of fiscal 2016 gross margin rate stood at 30.9 per cent as against 30.4 per cent, reflecting the benefit of annualising heightened promotional markdowns in second quarter of fiscal 2015.

SG&A expense rate amounted to 19.9 per cent in the reporting period vis-à-vis 20.5 per cent in the second quarter of fiscal 2015, reflecting ongoing cost savings initiatives and expense timing.

The Company's second quarter of fiscal 2016 net interest expense was $148 million, compared with $433 million last fiscal's corresponding quarter.

Last year's second interest expense included a $285 million charge related to the early retirement of debt.

In the three months to August 1, 2015, the Company repurchased 8.2 million shares of common stock at an average price of $81.94, for a total investment of $675 million.

The retailer also paid dividends of $331 million during the quarter, an increase of 22 per cent from $272 million in the same quarter of earlier fiscal.

In total, the Company returned $1,006 million to shareholders in the second quarter of fiscal 2016, representing more than 133 per cent of net income.

Year-to-date, the company has repurchased 15.2 million shares at an average price of $81.41, for a total investment of $1.2 billion.

Under the current $10 billion share repurchase program, Target has repurchased 65.1 million shares of common stock at an average price of $67.19, for a total investment of approximately $4.4 billion.

In the third quarter of fiscal 2016, Target expects adjusted EPS of $0.79 to $0.89 compared with $0.79 in third quarter of fiscal 2015.

It has also hiked its full fiscal 2016 adjusted EPS guidance to $4.60 to $4.75 as against prior guidance of $4.50 to $4.65. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Fashion Revolution/Fashion Transparency Index

Apparel/Garments | On 23rd Apr 2018

Transparency helps in swiftly alerting brands

Disclosing key supplier, supply chain and operational information...

Japan’s clothing imports up 4% in fiscal 2017

Apparel/Garments | On 23rd Apr 2018

Japan’s clothing imports up 4% in fiscal 2017

Japan’s imports of clothing and accessories increased by 4 per cent...

Courtesy: Fashion Revolution/Fashion Transparency Index

Fashion | On 23rd Apr 2018

Top global fashion brands now more transparent

Fashion Revolution’s Fashion Transparency Index 2018 reveals Adidas...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search