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During the Thanksgiving weekend, a large number of consumers turned to their smartphones and computer screens for their shopping needs. Amazon, as expected, gobbled up a lion's share of the online transactions. Lets take a look at the other retailers that made a killing last weekend. $TGT $WMT $AMZN $KSS $M $COST $BBY $GME $HD $LOW
$TGT raised its FY17 outlook for GAAP and non-GAAP EPS. The company now expects GAAP EPS from continuing operations of $4.38 to $4.58 and adjusted EPS of $4.40 to $4.60. In 4Q17, Target anticipates GAAP EPS from continuing operations and adjusted EPS of $1.05 to $1.25.
$TGT, which is expected to invest over $7Bil of capital on itself over the next three years to refurbish stores, improve online presence and reach more customers, reported 21% decline in 3Q17 earnings to $480MM, or $0.88 per share. Adjusted EPS during this period was $0.91, a decrease of 13.1% from the same quarter last year.
Tax service provider $HRB has named Jeffrey Jones President and CEO, effective October 9, 2017. Jones will succeed Tom Gerke, who will remain the general counsel. Most recently, Jones served as President of Ride Sharing at Uber. Earlier, he held various leadership positions at $TGT, including EVP and Chief Marketing Officer.
Multi-format retailer $WMT posted a 1.8% rise in US comparable sales in 2Q18 helped by strong traffic, marking the 12th consecutive growth. Profit plunged 23% annually to $2.9Bil, owing mainly to higher expenses, despite a 2.1% gain in revenues. Sales of Wal-Mart’s peers $TGT and $HD rose 6% and 2% respectively in their most recent quarter.
$TGT is all set to expand the same-day delivery service to more locations in the New York in the fall. The company continues to invest in its digital back-to-school platform, and expects overall capital expenditure to be in the $2-$2.5Bil range in fiscal 2017 and around $3Bil in 2018. In 3Q17, EBIT is estimated to decrease by $230MM.
$TGT said traffic rose more than 2% in 2Q17, exceeding expectations, and the growth was broad-based. In the first half of 2017, store-pickup volumes rose more than 30%. The company is investing in system enhancement in store operations. Target intends to launch new brands in the coming quarters, and expects around 300 store transformations in 2018.
For 3Q17, $TGT expects both GAAP EPS from continuing operations and adjusted EPS in the range of $0.75 to $0.95. For fiscal 2017, the company currently estimates GAAP EPS from continuing operations to be in the range of $4.35 to $4.55, and adjusted EPS between $4.34 and $4.54, higher than the previous outlook of $3.80 to $4.20.
Merchandise retailer $TGT reported a 1.3% growth in comparable store sales in 2Q17, helped by an increase in traffic both in stores and digital channels. Sales rose 1.6% YoY to $16.43BIl. Net income dropped 1.2% to $672MM, while earnings per share rose to $1.22. ON a non-GAAP basis, earnings were $1.23 per share, unchanged from last year.
$KIM has signed a lease with $TGT for a 48,000-square-foot, small-format store at Westmont Plaza in Haddon Township, New Jersey, set to open in July 2018. The addition of Target is the first step in a larger repositioning of the 173,000-square-foot, open-air center. The store will also offer a CVS Pharmacy and Target’s Order Pickup service.