Target Reports on Q4 and FY 2018

03/05/2019

In a press release dated March 5th Target Corp (TGT) announced results for the 4th Quarter and Fiscal 2018 ending February 2 nd

The following table summarizes the results for the period compared with the values for the corresponding quarter of the previous fiscal year (Values expressed as $ x 1,000 except EPS)

4th Quarter Ending

Feb. 2nd 2018

Feb. 3rd 2017

Difference (%)

Revenue:

$22,977,000

$23,983,000

-4.2

Gross profit:

$6,077,000

$6,188,000

-1.8

Operating income:

$1,117,000

$1,129,000

-1.1

Net Income *

$799,000

$1,087,000

-26.5

Diluted earnings per share:

$1.52

$1.99

-23.7

Gross Margin (%)

26.5

25.8

+2.7

Operating Margin (%)

4.9

4.7

+4.3

Profit Margin (%)

3.5

4.5

-22.2

Long-term Debt:

$10,233,000

$11,117,000

-8.0

12 Months Trailing:

     

Return on Assets (%)

6.3

   

Return on Equity (%)

29.2

   

Operating Margin (%)

5.7

   

Profit Margin (%)

4.4

   

Total Assets

$41,290,000

$40,303,000

+2.5

Market Capitalization

$39,700,000

   

* Includes $216 million tax provision

For FY 2018 TGT earned $2.94 billion on sales of $75.36 billion with an EPS of $5.54. Comparable figures for FY 2018 were net earnings of $2.91 billion on sales of $72.71 billion with an EPS of $5.32.

52-Week Range in Share Price: $60.15 to $90.39

Market Close March 5th post pre-opening release $76.00 (+4.6percent)

Forward P/E 13.6 Beta 1.0

Same store sales growth for FY 2018 attained 3.2 percent with a growth in E-commerce of 36 percent.


In commenting on results Brian Cornell, chairman and CEO stated "We're very pleased with our fourth quarter performance, which capped off an outstanding year for Target. Thanks to the dedication of Target's team, we delivered our strongest traffic and comparable sales growth in well over a decade, and our 2018 Adjusted EPS set a new all-time record for the Company," He added "we have been driving an ambitious agenda to transform our Company, evolve with our guests and drive strong growth. On every count we've been successful, and as we enter 2019, we will continue to lead the industry by adapting, innovating and delivering more for our guests and shareholders."

Target provided EPS guidance for FY 2019 as a range of $5.75 to $6.05.


















































































































































































Top