Target hits the bull's-eye in second quarter

摘要

Describing the company's most recent earnings, Target Corp. management chose terms that included "unprecedented," "strongest" and "remarkable." Net income for the second quarter of fiscal 2020, ended Aug. 1, totaled $1.7 billion, equal to $3.38 per share on the common stock, 80% higher than the same period during the previous year. Quarterly sales rose 25% to $22.7 billion. "The results we reported this morning are truly unprecedented," said Brian C. Cornell, chairman and chief executive officer, during an Aug. 19 conference call with securities analysts. "On the top line, we delivered second-quarter comparable sales growth of 24.3%, the strongest we've ever reported. Equally remarkable on the bottom line, we generated adjusted EPS of $3.38, a new record high and strong enough to offset the significant profit headwind we faced in the first quarter."