Company Earnings Update 3 minutesRegister for Free AccessTarget (TGT) 2Q16 Results: Target Plans for a Challenging Second Half Coresight Research August 18, 2016 Executive Summary Target reported 2Q16 adjusted EPS of $1.23 versus the consensus estimate of $1.13. Comps were down 1.1% versus expectations of a 0.7% decline and guidance of flat–(2)%. Traffic was down 2.2%, but the decline was partially offset by a 2.6% increase in average selling price. Units per transaction were down 1.5%. Comps in Target’s signature categories were up 2%. Target lowered its full-year EPS guidance to $4.80–$5.20 from $5.20–$5.40 previously; consensus calls for EPS of $5.13. The company lowered its outlook for 2H16 comps based on the current retail environment. Management is planning for a challenging second half of the year. Please Login to read the full report. Not a member? Register for a free user account. This document was generated for Other research you may be interested in: Generative AI in Retail and Healthcare: Insights Presented at NACDS TSE 2023Coresight Bites: Which US Consumers Are Most Sensitive to Inflation?Using the Coresight Research 3x3x3 Framework To Navigate a “Chutes and Ladders” Economy: Insights Presented at Golden Seeds 2023 Annual SummitRetail Around the World: Singles’ Day 2023—Coresight Research Observations
