The strong momentum in the first half of the fiscal year prompted Target to raise its full-year estimates.Back-to-school shopping at a Target store in West Hollywood, California.'s second-quarter profit jumped 17%, beating Wall Street estimates and prompting the company to raise its outlook for the rest of the year, the company said Wednesday.
"By appealing to shoppers through a compelling assortment, a suite of convenience-driven fulfillment options, competitive prices and an enjoyable shopping experience, we're increasing Target's relevancy and deepening the relationship between our guests and our brand," Cornell said in a statement announcing the earnings results.
Total revenue grew 3.6% to $18.42 billion from $17.78 billion a year ago, topping estimates for $18.34 billion.
pstt the secret formula they have is that Target card they push on customers at check out. 'Save 3% on every purchase' is what they tell customers. This formula only works until budgets become tight.
CNBC using their Pump n Dump to prime fashion this morning. Eliminate bad data and news, show anything up over 5%. No need to mention it is up because of a beat on very 'lowered' estimates. Amazingly corrupt!