Target Announces 3rd Quarter Results Down For 2024

MINNEAPOLIS (WJON News) -- Target has announced its third-quarter earnings for this year. The retailer reports an adjusted earning per share (EPS) of $1.85 which is down from $2.10 last year.

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What did Target's CEO have to say about the results?

The financial results reflect comparable sales growth driven entirely by traffic and strength in the digital channel. Target Chair and CEO Brian Cornell says he's proud of Target's efforts to navigate through a volatile operating environment during the third quarter and their team is energized and ready to deliver the unique combination of newness and value that holiday shoppers can only find at Target.

How Does the fourth quarter look?

Total revenue in the third quarter was $25.7 billion which was 1.1 percent higher than in 2023. For the fourth quarter, Target expects approximately flat comparable sales and GAAP and adjusted EPS of $1.85 to $2.45.

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