Categories AlphaGraphs, Earnings, Retail

TGT Earnings: All you need to know about Target’s Q4 2023 earnings results

Target Corporation (NYSE: TGT) reported fourth quarter 2023 earnings results today.

Total revenue was $31.9 billion, up 1.7% compared to the same period last year. Comparable sales declined 4.4%.

Net earnings grew 58% to $1.38 billion, or $2.98 per share, compared to last year. Adjusted EPS rose 58% to $2.98.

Both the top and bottom line numbers beat expectations, sending the stock soaring over 9% in premarket hours on Tuesday.   

For the first quarter of 2024, the company expects a comparable sales decline of 3-5%. GAAP and adjusted EPS are both expected to range between $1.70-2.10.

For the full year of 2024, Target expects comparable sales to range from flat to up 2%. GAAP EPS and adjusted EPS are both expected to range between $8.60-9.60.

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