Target Corporation (NYSE: TGT) reported third-quarter 2020 financial results before the regular trading hours on Wednesday. The department store chain reported Q3 revenue of $22.6 billion, up 21% year-over-year and higher than the Wall Street projection. Meanwhile, net income of $2.79 per share was much better than what analysts had anticipated.
TGT shares rose 2% immediately following the announcement. The stock has increased by 29% since the beginning of this year.
Yesterday, Walmart (NYSE: WMT) reported a 5% increase in Q3 revenue, sending the stock up 1.5% during pre-market hours. Meanwhile, The Home Depot, Inc. (NYSE: HD) reported 23.2% year-over-year growth in Q3 net sales and a 24.1% increase in comparable sales.
Prior performance
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