Target Corporation Reports Fourth Quarter and Full-Year 2020 Earnings

Spread the love

Q4 2020 Highlights     

  • Comparable sales grew 20.5 percent, reflecting comparable traffic growth of 6.5 percent and a 13.1 percent increase in average ticket.
    • Store comparable sales increased 6.9 percent. Digital comparable sales grew 118 percent, accounting for two-thirds of the Company’s overall comp growth.
    • Same-day services (Order Pick Up, Drive Up and Shipt) grew 212 percent, led by more than 500 percent growth in Drive Up.
    • More than 95 percent of Target’s fourth quarter sales were fulfilled by its stores.
  • EPS established an all-time high with GAAP EPS of $2.73 and Adjusted EPS1 of $2.67.
  • The Company continued to gain market share across all five of its core merchandising categories.

Full-Year 2020 Highlights

  • Target’s 2020 sales growth of more than $15 billion was greater than the Company’s total sales growth over the prior 11 years.
  • Comparable sales grew 19.3 percent, reflecting 7.2 percent growth in store comparable sales, and 145 percent growth in digital comparable sales.
  • Target’s digital sales grew by nearly $10 billion in 2020, driven by 235% growth in the Company’s same-day services
  • GAAP EPS from continuing operations of $8.64 was 36.3 percent higher than last year, while Adjusted EPS1 of $9.42 grew 47.4 percent compared with last year.
  • The Company gained approximately $9 billion in market share.

Article Source:

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

Leave a Reply