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Target achieves strong full-year comparable sales in 2018

06
Mar '19
Pic: Target Corp
Pic: Target Corp
Target, the second-largest department store retailer in US, has recorded growth of 5 per cent in comparable sales for the full-year of 2018—the strongest performance since 2005. In Q4, comparable store sales of the company grew 2.9 per cent, and comparable digital sales grew 31 per cent. Stores fulfilled nearly three quarters of Target’s Q4 digital sales.

For both the fourth quarter and full year, the company saw healthy comparable sales growth and market-share gains across all five of its core merchandise categories, according to a press release by Target.

Target’s total revenue of $23 billion was essentially flat to last year. Operating income was $1.117 billion in Q4 2018, compared with $1.129 billion in 2017. The year-over-year comparisons for both total revenue and operating income reflect the impact of an additional fiscal week in fourth quarter 2017.

“We’re very pleased with our fourth quarter performance, which capped off an outstanding year for Target. Thanks to the dedication of Target’s team, we delivered our strongest traffic and comparable sales growth in well over a decade, and our 2018 adjusted EPS set a new all-time record for the company,” said Brian Cornell, chairman and chief executive officer of Target Corporation. “We have been driving an ambitious agenda to transform our company, evolve with our guests and drive strong growth. On every count we’ve been successful, and as we enter 2019, we will continue to lead the industry by adapting, innovating and delivering more for our guests and shareholders.”

In first quarter 2019, Target expects a low-to mid-single digit increase in comparable sales, and both GAAP EPS from continuing operations and adjusted EPS of $1.32 to $1.52. For full-year 2019, Target expects a low- to mid-single digit increase in comparable sales and a mid-single digit increase in operating income. (PC)

Fibre2Fashion News Desk – India


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