Target Corporation
TGT
$92.19 0.66%
Exchange: NYSE | Sector: Consumer Defensive | Industry: Discount Stores
Q3 2024
Published: Nov 27, 2024

Earnings Highlights

  • Revenue of $25.67B down 19.6% year-over-year
  • EPS of $1.84 decreased by 38.1% from previous year
  • Gross margin of 30.8%
  • Net income of 854.00M
  • ""We're continuing to make the right investments in our business that will help us deliver profitable growth in the years ahead."" - Brian Cornell
TGT
Target Corporation

Executive Summary

In Q3 2024, Target Corporation (TGT) demonstrated resilience amidst economic challenges, achieving a slight revenue increase of 0.3% year-over-year to $25.67 billion. Despite a backdrop of cautious consumer spending and economic uncertainties, the company reported an increase in traffic, which grew by 2.4%, representing over 10 million additional transactions. The operational focus remains on stabilizing discretionary categories which showed weakness, particularly in apparel and home goods. Target continues to prioritize investments in its digital initiatives and operational efficiencies, as seen by robust growth in digital sales, up nearly 11%, and same-day delivery services expanding approximately 20%. Management remains committed to long-term strategies, navigating through current volatility while laying down the foundation for future growth.

Key Performance Indicators

Revenue
Decreasing
25.67B
QoQ: 0.85% | YoY: -19.58%
Gross Profit
Increasing
7.91B
30.82% margin
QoQ: 3.37% | YoY: 0.22%
Operating Income
Increasing
2.43B
QoQ: 48.32% | YoY: 29.75%
Net Income
Decreasing
854.00M
QoQ: -28.36% | YoY: -38.21%
EPS
Decreasing
1.85
QoQ: -28.29% | YoY: -38.13%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2025 23,846.00 2.27 -2.8% View
Q4 2024 30,915.00 2.42 +26.0% View
Q3 2024 25,668.00 1.84 -19.6% View
Q2 2024 25,452.00 2.57 -20.3% View
Q1 2024 24,531.00 2.03 -3.4% View