Matthew Waterman
All posts from Matthew Waterman
Matthew Waterman in Brand Power,

Target Meets Analyst Targets But Still Falls

Target (TGT)  reported today earnings of 86 cents per share, precisely meeting analyst expectations for the 3rd quarter. They also beat on revenue expectations with $17.61 billion in sales, vs. analyst consensus of $17.57 billion.

Certainly nothing to be disappointed with there, but the chain also noted a slowdown in online sales, which grew 20%, though in the last quarter saw 30% growth. The stock was punished for this, down $3.13 to $69.78 today. Oliver Chen, an analyst for Cowen & Company, mentioned that Walmart (WMT) also saw a decline during this period, and that Target saw twice as much growth. 

Walmart closed up $1.01 to $60.93 today. Apparently retail favorites change quickly.