$FSLR said cash and marketable securities decreased $213MM to 2Q16 ending balance of $1.7Bil. The company's net cash position also decreased to $1.4Bil. Cash decreased from 1Q16 due to ongoing construction of projects on balance sheet, CapEx and debt repayment. For 2Q16, net working capital was virtually unchanged.
$TGT's sales for 4Q16 decreased 4.3% from last year, reflecting a 1.5% decline in comparable sales combined with with the removal of pharmacy and clinic sales from this year's results. Comparable digital channel sales grew 34% and contributed 1.8 percentage points of comparable sales growth.
$TGT reported a 42.7% drop in 4Q16 earnings due to the impact of rapidly-changing consumer behavior, which drove very strong digital growth but unexpected softness in stores. Net income fell to $817MM or $1.45 per share from $1.43Bil or $2.32 per share last year. Sales declined 4.3% to $20.69Bil. Adjusted EPS decreased 4.6% to $1.45.
$FTR reorganized its business structure with the creation of new consumer and commercial business. The company said that the previous structures were more regionally focused and it had seven regions structure before the reorganization.