Target Corporation (TGT)
Target profits disappoint as inflation forces shoppers to slash spending; stock dips 10%
Target stock price dips following an earnings report showing that customers were buying fewer groceries and home goods.
Markets Await Existing Home Sales Numbers
Pre-market futures are slightly into the red at this hour. Although we've seen nice gains on all major indices month-to-date — the Dow +5%, S&P 500 +5.3%, the small-cap Russell 2000 +5.7% and the Nasdaq +7% — we look to have flattened off somewhat over the past week.
Target (TGT) Q1 Earnings Miss Estimates, Comps Decline Y/Y
Target's (TGT) first-quarter fiscal 2024 results reflect a sequential improvement in comparable sales performance. Markedly, the gross margin rate improves year over year.
Target's Q1 Sales Slide To $24.1 Billion As Consumers Cut Spending
Target Corporation's first-quarter comparable sales fell by 3.7% following a full-year decline in 2023. This has put the near-2,000-door retailer on high alert with actions in place designed to rebuild customer traction as the company approaches the summer season.
Target Stock Sinks on Q1 Earnings Miss: What To Know
Target stock slumped after the retailer's earnings and revenue were hit by a tough consumer spending environment. Here's what you need to know.
Target Corporation (TGT) Q1 2024 Earnings Call Transcript
Target Corporation (NYSE:TGT ) Q1 2024 Earnings Conference Call May 22, 2024 8:00 AM ET Company Participants John Hulbert - Vice President, Investor Relations Brian Cornell - Chair and Chief Executive Officer Christina Hennington - Executive Vice President and Chief Growth Officer Michael Fiddelke - Executive Vice President, Chief Operating Officer and Chief Financial Officer Conference Call Participants Simeon Gutman - Morgan Stanley Michael Lasser - UBS Rupesh Parikh - Oppenheimer Corey Tarlowe - Jefferies Michael Baker - D.A. Davidson Kate McShane - Goldman Sachs Operator Ladies and gentlemen, thank you for standing by.
Target (TGT) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
While the top- and bottom-line numbers for Target (TGT) give a sense of how the business performed in the quarter ended April 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Target Stock on Track for Worst Day Since 2022
Target Corp (NYSE:TGT) stock was last seen down 8.7% to trade at $142.26, after the retailer reported a first-quarter earnings miss and a 3% sales drop due to lower consumer spending on discretionary items.
A retail analyst says Target is ‘falling behind' Walmart, Amazon, and Costco after earnings, but hope is not lost
Target reported Q1 2024 earnings on Wednesday, revealing to investors that comparable sales fell 3.7% during the quarter, causing the company's share price to fall before the market opened.
Target Slides As Inflation Continues To Impact Sales, Guidance Disappoints
Target (TGT) shares tumbled in premarket trading Wednesday despite the retailer reporting a small earnings beat for the first quarter of fiscal 2024, as inflation and lower discretionary spending continue to weigh on sales.
Target, Walmart shoppers seek home goods, grocery delivery online
U.S. online spending is experiencing a rebound, spurred by high gas prices, convenient delivery options and a surge in deals following a brief post-pandemic slump, U.S. retailers say.
Target Shares Slide After Inflation Hurts Earnings
Target posted weaker-than-expected first-quarter earnings and a sales drop Wednesday, following a slowdown in spending as inflation-weary shoppers continued to keep their budgets in check, causing shares of the discount chain to fall in pre-market trading.
