Sales decline 6.7% at Target Corp in Q3FY17

17 Nov '16

1 min read

For the three months ended October 29, 2016, sales at US retailer Target Corporation declined 6.7 per cent to $16.4 billion from $17.6 billion in the fiscal ago quarter. But, while comparable sales dropped 0.2 per cent year over year, comparable digital channel sales soared 26 per cent and contributed 0.7 percentage points to comparable sales growth.

Earnings before interest expense and income taxes (EBIT) for the third quarter of fiscal 2017 rose 9.9 per cent to $1,057 million as against $962 million in the prior fiscal's third quarter.

EBITDA and EBIT margins stood at 9.9 per cent and 6.4 per cent, respectively in the reporting quarter, compared with 8.6 per cent and 5.5 per cent, respectively in the same quarter of earlier fiscal.

In the quarter under review, GAAP earnings per share from continuing operations totalled $1.06, an increase of 39.7 per cent over the third quarter of fiscal 2015, while adjusted earnings per share from continuing operations amounted to $1.04, up 22.1 per cent. (AR)

Fibre2Fashion News Desk – India

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