Target pops after raising guidance thanks to strong holiday sales (TGT)

TargetAP

  • Target shares rose by as much as 4.82% to $ 70.42 during pre-market trading Tuesday after the retailer beat market expectations for holiday sales.
  • The company reported same-store sales rose 3.4% in the November to December period, easily beating the 0% to +2% range that Wall Street was expecting.
  • Target raised its fourth-quarter adjusted earnings-per-share guidance to between $ 1.30 and $ 1.40. Previously, it expected a range of $ 1.05 to $ 1.25.
  • For the full-year of 2017, the retailer sees an adjusted earnings-per-share of $ 4.64 to $ 4.74 from a prior guidance of $ 4.40 to $ 4.60.
  • The good news comes on the heels of strong traffic growth and solid digital sales.
  • Target recently acquired Alabama-based startup Shipt for $ 550 million as a way to fend off Amazon’s encroachment into the grocery-delivery business.
  • You can watch Target’s stock price move here.

To read about a grocery store that is successfully countering the Amazon threat, click here.

Target stock priceMarkets Insider

NOW WATCH: Why bitcoin checks all the boxes of a bubble

Post Author: martin

Avatar
Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.