May 17, 2017
This morning, Target announced its first quarter 2017 earnings results. Click here for the full results and see below for a snapshot of how Target is continuing to move its strategy forward.
TARGET EARNINGS Q1 2017
Key Results and Updates on Strategic Initiatives
$1.22 GAAP EPS from continuing operations
$1.21 Adjusted EPS*
-1.3% comparable sales
$637M capital returned to shareholders
+22% comparable digital channel sales
digital & fulfillment
We’re continuing to enhance the digital experience and offer guests more options for fulfilling their orders no matter where they shop with Target.
Target is combining the strength of our assortment and the convenience of our more than 1,800 stores to test next-day delivery for household essentials – everything from toothpaste to diapers.
Twin Cities team members are testing Target Restock now, local REDcard-holder test coming soon.
Tribeca delivery pilot
In June, our Tribeca store will begin testing same-day delivery of in-store purchases anywhere in Manhattan and parts of Brooklyn and Queens.
We introduced playful product pages curated by Target team members around pop culture moments (“Friendsgiving” or “Galentine’s Day”) and holidays highlighting key products to surprise and delight guests.
360-degree shoppable rooms on Target.com
Target is tapping the power of CGI to provide an easy and inspirational 360-degree digital experience for guests to shop furniture and home décor.
Home Furnishings & Décor account for 19% of annual sales.
Our unique experiences and differentiated assortment continue to be a reason guests love to shop at Target.
We saw market share gains across the board in Apparel, particularly in Swim.
Shade & Shore, with its focus on the right fit, has delivered strong results in just a few months since its launch.
Millions of guests shopped our Victoria Beckham for Target collaboration, making it one of our biggest limited-edition partnerships to date.
Our Electronics business leaped forward with the launch of the Nintendo Switch and guests loved our playful in-store marketing campaign, complete with Mario-themed carts.
Stores are meeting guests’ needs in new ways and serving guests in new places.
Next Generation of Stores
We unveiled a sneak peek at our next generation store design, which includes separate entrances for guests seeking ease and inspiration. Our first fully reimagined store will open in Houston in October.
Target [Heart icon] New York
We recently announced three new stores in New York: Herald Square, Lower East Side and Jackson Heights, Queens.
*Adjusted EPS is a non-GAAP financial measure most directly comparable to GAAP EPS from continuing operations. Adjusted EPS is reconciled to GAAP EPS from continuing operations in our Q1 2017 earnings release posted on our investor relations website.
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