Target Reports Q4 Earnings, EPS Beats Expectations

Target Corporation reported a strong performance for the fourth quarter of 2024, with comparable sales growing by 1.5% and digital sales increasing by 8.7%. The company exceeded earnings expectations, with earnings per share (EPS) of $2.41, surpassing the anticipated $2.24, despite a decline in net sales of 3.1% to $30.9 billion. This performance was bolstered by strong sales in key categories like Toys, Electronics, and Apparel, alongside significant growth in same-day delivery services through Target Circle 360. Although earnings fell from $2.98 per share in the previous year, they surpassed analysts' expectations of $2.26 per share. Following the earnings report, Target's shares rose 2.3% in premarket trading, reflecting a positive outlook for the upcoming fiscal year. The company's strategic emphasis on enhancing its digital capabilities played a crucial role in its ability to outperform expectations during a challenging fiscal period.