Earnings

Target (TGT) Q2 2021 earnings beat projections

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Target said Wednesday fiscal second-quarter sales rose in every merchandise category from apparel to grocery — even when compared with last year’s pandemic-fueled record pace, helping the retailer top earnings estimates. 

With back-to-school spending off to a promising start, the big-box retailer raised its forecast for the year. But shares fell 1.4% in premarket trading.

Target expects to see comparable sales, a key retail metric that tracks sales online and at stores open at least a year, rise by high single-digits in the second half of the year. It had previously anticipated growth in the single digits.

CEO Brian Cornell said in a call with reporters that parents are snapping up…



Source cnbc.com

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