The Target Turnaround Is Real. Here's What Investors Should Know.
Target crushed second-quarter estimates, signaling a continued comeback for the retailer.
Overview
Target (NYSE: TGT) is meeting its targets and proving skeptics wrong, showing that the veteran retailer's turnaround is for real. The Minnesota-based business reported second-quarter earnings that blew past estimates. Here's what investors need to know.
First and foremost, tariffs played a substantial role in the earnings beat as a one-time refund boosted numbers. The refund totaled nearly $1 billion. Still, without the repayment from the federal government, the company's adjusted earnings per share (EPS) would have grown 20% from the same period last year. Revenue climbed 5.3% year over year to $26.5 billion, with digital sales growing an impressive 8.7%.
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Originally published at www.fool.com.