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
19
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

Textiles | On 25th May 2017

Huntsman and Clariant to have merger of equals

Huntsman Corporation and Clariant have announced that their boards of ...

Courtesy: CBRE

Apparel/Garments | On 25th May 2017

European cities preferred for retailer expansion: CBRE

European cities were the preferred new destination for international...

Apparel/Garments | On 25th May 2017

Guess records $458.6 million revenue for Q1 2018

For the first quarter of fiscal 2018, the net revenue of American...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Eamonn Tighe
Nature Works LLC

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Giorgio Mantovani
Corman S.p.A

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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