Total revenue of $17.6 billion increased 5.0 per cent from $16.8 billion last year, reflecting sales growth of 5.1 per cent combined with a 0.5 per cent increase in other revenue.
The company reported Gaap earnings per share (EPS) from continuing operations of $1.53 in first quarter 2019, up 15.1 per cent from $1.33 in first quarter 2018. First quarter adjusted EPS were $1.53, up 15.9 per cent from $1.32 in first quarter 2018.
"Target had an outstanding first quarter, as our team delivered a great experience for our guests and drove strong growth in traffic, comparable sales, operating income and earnings per share," said Brian Cornell, chairman and CEO of Target Corporation.
"Over the last two years we have made important investments to build a durable operating and financial model that drives consumer relevance and sustainable growth. Target's first quarter performance and market-share gains demonstrate that the model is working. Throughout this year, we will continue to extend the reach of our same-day fulfillment options, strengthen our portfolio of owned and exclusive brands, remodel and open more stores and invest in our team. We're confident that we're well-positioned to deliver strong financial performance in 2019 and beyond," explained Cornell.
Target expects second quarter comparable sales growth in the low- to mid-single digit range, mid-single digit growth in operating income dollars and both Gaap EPS from continuing operations and adjusted EPS of $1.52 to $1.72.
For full-year 2019, Target continues to expect a low- to mid-single digit increase in comparable sales, a mid-single digit increase in operating income, and both Gaap EPS from continuing operations and adjusted EPS of $5.75 to $6.05.
Second quarter and full-year 2019 Gaap EPS from continuing operations may include the impact of certain discrete items which will be excluded in calculating adjusted EPS. (RR)
Fibre2Fashion News Desk – India
Textiles | On 24th Jun 2019
The United Kingdom has rejected calls for a levy on apparel sales to...
Textiles | On 24th Jun 2019
To become first carbon neutral fibre producer in the world, Lenzing...
Information Technology | On 24th Jun 2019
SML, a global leader in delivering item-level RFID solutions for...
Sunil Kumar Sharma
Loknayak JPNSSSG Ltd
'The blend of cotton–linen yarn has high demand in the domestic and...
Indian textile value chain
'One nation, one tax' is a great concept
Technical textiles industry moving back to Europe
Himalaya Cotton Yarn Ltd manufactures high quality denier. The spinning...
Manila-based CustomThread is a start-up offering premium custom apparel...
Australia-based Sunseeker has been creating swimwear since 1970. Sunseeker ...
S Ziya Gumuser
Turkish nonwoven manufacturer Teknomelt has been around for only seven...
Biovation II LLC
Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...
Bombay Textile Research Association
Bombay Textile Research Association (BTRA) is a leading name in textile...
The hype around 'designer jeans' was created by him. And the new wave of...
Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...
<div>Delhi-based Gritstones Clothing offers quality and exemplary style...