Home / Knowledge / News / Apparel/Garments / Target Corp reports 11.6% drop in Q2FY17 GAAP EPS
Target Corp reports 11.6% drop in Q2FY17 GAAP EPS
Aug '16
US retailer Target Corporation reported a 11.6 per cent year over year drop in GAAP earnings per share from continuing operations at $1.07 in the three months ended July 30, 2016.

However, the second quarter of fiscal 2017 adjusted earnings per share from continuing operations, which exclude $161 million of pre-tax early debt retirement losses, were $1.23, up 0.5 per cent.

In the reporting quarter, sales declined 7.2 per cent to $16.2 billion as against $17.4 billion in the prior fiscal's same quarter, reflecting a 1.1 per cent decrease in comparable sales.

Second quarter of fiscal 2017 gross margin rate stood at 31.3 per cent, up from 30.9 per cent in the corresponding quarter of earlier fiscal.

SG&A expense rate rose slightly higher at 20.1 per cent in the quarter under review vis-à-vis 19.9 per cent in the fiscal ago quarter, as a result of deleveraging impact of lower sales.

The retailer lowered its GAAP EPS from continuing operations guidance for the full fiscal to between $4.36 and $4.76, compared with prior guidance of $4.76 to $4.96. (AR)

Fibre2Fashion News Desk – India

Must ReadView All

FDI in Vietnamese textile-garment projects on the rise

Apparel/Garments | On 24th Jun 2018

FDI in Vietnamese textile-garment projects on the rise

The European Union-Vietnam Free Trade Agreement and the Comprehensive ...

Courtesy: Alizilla

Apparel/Garments | On 24th Jun 2018

Alibaba Group sets up office in Kuala Lumpur

Strengthening its commitment to Malaysia, Alibaba Group has set up an ...

Bombay Dyeing plans to wind up Indonesian JV

Textiles | On 24th Jun 2018

Bombay Dyeing plans to wind up Indonesian JV

Bombay Dyeing & Manufacturing Co Ltd plans to wind up its loss making ...

Interviews View All

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Carolin Russ

Weko, Weitmann &amp; Konrad GmbH &amp; Co KG, based in south Germany, is...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

June 2018

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

news category

Related Categories:

Advanced Search