Retail

Target (TGT) Q2 2020 earnings blow away estimates

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Target on Wednesday blew past every forecast on Wall Street for its fiscal second quarter as it attracted millions of new customers online, setting a record for same-store sales that drove profits up by an eye-popping 80.3% to $1.7 billion. 

Sales online and at stores open for at least a year climbed by 24.3% during the quarter ended Aug. 1— an all-time high for the retailer. Same-store sales climbed by 10.9% while the company’s digital sales nearly tripled from a year earlier.

Shares jumped by nearly 9% in premarket trading.

Here’s how the company did in the second quarter versus what analysts forecast, based on average estimates compiled by Refinitiv:

  • Adjusted EPS: $3.38, vs. $1.62…



Source cnbc.com

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