Target Corp. (TGT) is an American retail company headquartered in Minneapolis, Minnesota.
And the retailer is one of the biggest benefactors of the pandemic…
At the onset of COVID-19, many consumers turned to wholesalers like TGT for everyday items and must-have products.
This is due to TGT’s business-strategy shift, the reliability of its services, and mass-store closures all across the country.
In order to avoid major disruptions from lockdowns and restrictions, TGT doubled down on its e-commerce platform, as well as delivery services for necessities like groceries.
These components helped the company report strong financials over the past two years. It also enabled it to see substantial growth in share value.
This is made evident in its latest quarterly report…
In the second quarter, TGT said its earnings per share were $3.64 versus the estimated $3.51. The company’s revenue was $25.18 billion, greater than the anticipated $24.99 billion. And comparable-store sales jumped by 8.9% versus the expected increase of 8.8%.
And while TGT provided a solid outlook as well, many analysts were disappointed that the company said many of its financials would come in toward the upper end of its guidance compared to some of the elevated expectations.
This pushed TGT shares down in recent weeks. However, this trend is unlikely to last long.
Retail spending remains strong as we head further into the fall. And with Delta variant concerns looming above, many consumers may turn to ‘tried-and-true’ pandemic winners to stock up on goods – benefiting TGT in the process.
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