Target Beats Q3 Earnings Expectations. How the Retail Giant Beat Expectations Amid Shopper Uncertainty.

Benzinga 2023-11-15

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Target reported third quarter earnings that beat analysts' expectations, earning $2.10 per share compared to the expected $1.48. Revenue was $25.4 billion slightly below the expected $25.24 billion. While sales of categories like food and beauty helped offset weaker spending, Target saw softer sales of discretionary categories like home goods and clothing. Shoppers are seeking out lower prices and postponing purchases. Target expects similar sales trends in the holiday quarter, with comparable sales projected to decline in the mid-single digit range. Adjusted earnings per share are projected between $1.90 to $2.60.

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