Target Corporation (NYSE: TGT ) is expected to report its earnings on Nov 16, 2011.
The company reported that net retail sales for the four weeks ended August 27, 2011, were $5.3 billion, an increase of 5.4 percent from $5 billion for the four weeks ended August 28, 2010. On this same basis, August comparable-store sales increased 4.1 percent. Net retail sales for the five weeks ended October 1, 2011, were $5.9 billion, an increase of 6.5 percent from $5,.56 billion for the five weeks ended October 2, 2010. On this same basis, September comparable-store sales increased 5.3 percent. Net retail sales for the four weeks ended October 29, 2011, were $4.84 billion, an increase of 4.3 percent from $4.64 b[Default U1]?illion for the four weeks ended October 30, 2010. On this same basis, comparable-store sales increased 3.3 percent in October and 4.3 percent in the third quarter.
For the quarter ended October 2011, I think, the company is likely to report revenue of $16.05 billion, an increase of 2.7 percent over the same quarter a year ago. Operating profit is likely to come in at $1.09 billion, compared with $773 million the same quarter a year ago. Net profit is likely to come in at $675 million, compared with $535 million the same quarter a year ago.
Net-on-net, the company is likely to report EPS of $0.73 for the quarter ended October 2011, compared with $0.68 in the year ago quarter.
In September and October, the company's website was down for some time. I expect the company to announce measures it took to make sure this doesn't happen again. I also expect the company to announce its foray into Canada. Earlier, its plans for moving into Canada hit a bump with the abrupt departure of Chief Marketing Officer Michael Francis, who had been guiding expansion plans.
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