Target Corporation, a US-based general merchandise retailer, has reported 9.4 per cent rise in its revenue to $24.8 billion in second quarter (Q2) of FY21 ended on July 31, 2021, compared to the revenue of $22.7 billion in the same period of prior fiscal. The company’s net earnings for the quarter surged 7.4 per cent to $1.8 billion (Q2 FY20: $1.7 billion).
Target Corporation, a US-based general merchandise retailer, has reported 9.4 per cent rise in its revenue to $24.8 billion in second quarter (Q2) of FY21 ended on July 31, 2021, compared to the revenue of $22.7 billion in the same period of prior fiscal. The company's net earnings for the quarter surged 7.4 per cent to $1.8 billion (Q2 FY20: $1.7 billion).#
“In the second quarter, our business generated continued growth on top of record increases a year ago, reinforcing Target's leadership position in retail. We've spent years building and investing in the durable model we have today, which is supported by a differentiated strategy and the best team in retail,” Brian Cornell, chairman and CEO of Target Corporation, said in a press release.
Target Corporation, a US-based general merchandise retailer, has reported 9.4 per cent rise in its revenue to $24.8 billion in second quarter (Q2) of FY21 ended on July 31, 2021, compared to the revenue of $22.7 billion in the same period of prior fiscal. The company's net earnings for the quarter surged 7.4 per cent to $1.8 billion (Q2 FY20: $1.7 billion).#
Digital comparable sales for the reported period grew 9.9 per cent compared to 195 per cent growth in Q2 FY20. The company’s operating income was up 7.2 per cent to $2.4 billion ($2.3 billion).
Target Corporation, a US-based general merchandise retailer, has reported 9.4 per cent rise in its revenue to $24.8 billion in second quarter (Q2) of FY21 ended on July 31, 2021, compared to the revenue of $22.7 billion in the same period of prior fiscal. The company's net earnings for the quarter surged 7.4 per cent to $1.8 billion (Q2 FY20: $1.7 billion).#
“Even after unprecedented growth over the last two years, we see much more opportunity ahead of us, and we're leaning into opportunities to invest in the long-term growth and resiliency of our business,” Cornell added.
Target Corporation, a US-based general merchandise retailer, has reported 9.4 per cent rise in its revenue to $24.8 billion in second quarter (Q2) of FY21 ended on July 31, 2021, compared to the revenue of $22.7 billion in the same period of prior fiscal. The company's net earnings for the quarter surged 7.4 per cent to $1.8 billion (Q2 FY20: $1.7 billion).#
For the second half of FY21, the US retailer expects high single digit growth in comparable sales, near the high end of the previous guidance range.
Fibre2Fashion News Desk (JL)
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