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Target (NYSE: TGT) 2Q19 Results: Beats Consensus Estimates and Raises 2019 EPS Guidance

Executive Summary

  • Target reported 2Q19 revenues of $18.42 billion, up 3.6% and beating the $18.29 billion consensus estimate. Adjusted EPS was $1.82, beating the $1.62 consensus.
  • Comps grew 3.4%, beating the consensus of 3.0%. Comparable digital sales grew 34%, contributing 1.8% to comps.
  • Target raised FY19 EPS guidance to $5.90-6.20 from the prior range of $5.75-6.05 and expects FY19 GAAP EPS from continuing operations.

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