Target: "Shelves Full"

[brooklynite]

Target Corp. Chief Executive Brian Cornell says the retailer continued to show the same strength heading into the back end of the year as it did during the front end, reporting third-quarter earnings and revenue that blew past Street expectations.

Net income totaled $1.49 billion, or $3.04 per share, up from $1.01 billion, or $2.01 per share, last year. Adjusted EPS of $3.03 was ahead of the FactSet consensus for $2.82.

Revenue totaled $25.65 billion, up from $22.63 billion a year ago and also ahead of the FactSet consensus for $24.61 billion.

Digital sales were up 29%. And comp sales growth, which the company says was driven by traffic, was up 12.7%. The FactSet consensus was for growth of 8.2%.

“With a strong inventory position heading into the peak of the holiday season, our team and our business are ready to serve our guests and poised to deliver continued, strong growth, through the holiday season and beyond,” Cornell said in an earnings statement.

https://www.marketwatch.com/story/target-blows-past-quarterly-earnings-expectations-11637148887?reflink=mw_share_twitter

[Sherman A1]

1. Seems the "supply chain" issue is easing with the recent Retail Sales reporting.

The thing is, that there have always been hiccups and spots outages. There will continue to be outages well after the pandemic is in the rearview mirror.

[panader0]

2. Even in my little town in SE Az I have seen no real shortages.

Prices are up and that started last year with covid. Lumber has gone down quite a bit, nearly 50% from
the highs last year. Things will shake out eventually. The media seems to look for fault where ever
they can.

[Omnipresent]

3. Those container ships are probably filled with MAGA hats, t-shirts, and flags!

Let their merchandise flow and the fleecing of tfg’s supporters continue!

[luvs2sing]

5. Target shelves full? That's laughable!

The shelves at my local Target have been pretty much empty, or full of only one specific brand of an item (seriously, an entire aisle full of nothing but Tide detergent or M&Ms), since the middle of 2018.

[Johonny]

6. I've noticed, wider aisles, less shelving

Early on they were roping off aisles. Now they've gotten smarter and just removed shelving. There is way less stuff this Christmas than any other year in these stores. It's very noticeable.

[Froggyproggy]

7. More data is needed

How much of the revenue growth is related to price increases vs. #of units sold. The comparison there would paint a more accurate picture. Shelves can be full if people are buying less in store. Revenue can be higher even with a decrease of inventory purchased in the brick and mortar environment.