Target Trims Full-Year Profit Outlook Amid Sales Decline
Target (NYSE:TGT) reduced the upper end of its full-year earnings outlook and reaffirmed expectations for a sales decline in the current quarter, signaling a cautious view heading into the holiday season.
For the third quarter, comparable sales fell 2.7%, missing consensus expectations of a 2.06% decline. Digital sales rose 2.4%, which was below Wall Street's 3.45% estimate.
Despite the sales shortfall, stronger results from the company's Roundel advertising division helped lift quarterly EPS to $1.78, ahead of expectations of $1.73. Target now anticipates adjusted full-year earnings of $7 to $8 per share, down from a previous range of $7 to $9 per share. The guidance excludes certain first-quarter legal settlement gains and third-quarter severance and asset-related charges.
The retailer said it faced an uncertain macro backdrop, including U.S. tariffs and a prolonged federal government shutdown, which led to consumer hesitation on discretionary purchases. The company also noted market share losses to Walmart and internal operational challenges, including understaffing and inventory mismanagement.
Further information about the company's background is available, including its history and ownership, mission and vision, financial health, and investor profile.
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