Summary
Target Corporation reported a solid first quarter for fiscal year 2019, with total revenue increasing by 5.0% to $17.63 billion, driven by a strong comparable sales growth of 4.8%. This growth was primarily fueled by a significant 42% increase in digital channel sales, which contributed 2.1 percentage points to the overall comparable sales increase, alongside a 2.7% rise in comparable store sales. The company demonstrated improved profitability, with operating income rising 9.0% to $1.14 billion and diluted earnings per share from continuing operations increasing by 15.1% to $1.53.
Financial Highlights
50 data pointsBeta
Financial Statements
Beta
| Revenue | $17.63B |
| Cost of Revenue | $12.25B |
| Gross Profit | $5.38B |
| SG&A Expenses | $3.66B |
| Operating Income | $1.14B |
| Interest Expense | $126.00M |
| Net Income | $795.00M |
| EPS (Basic) | $1.54 |
| EPS (Diluted) | $1.53 |
| Shares Outstanding (Basic) | 515.70M |
| Shares Outstanding (Diluted) | 519.50M |
Key Highlights
- 1Total revenue for the first quarter of fiscal year 2019 grew 5.0% to $17.63 billion compared to the prior year.
- 2Comparable sales increased by a robust 4.8%, driven by a 4.3% rise in transactions.
- 3Digital channel sales saw a substantial surge of 42%, contributing significantly to overall comparable sales growth.
- 4Operating income increased by 9.0% to $1.14 billion, indicating improved operational efficiency.
- 5Diluted earnings per share from continuing operations rose 15.1% to $1.53, demonstrating enhanced profitability on a per-share basis.
- 6The company repurchased $277 million of its stock in the first quarter, reflecting a commitment to returning capital to shareholders.
- 7REDcard penetration remained strong at 23.5%, indicating continued guest loyalty and engagement.