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    Target Corp (TGT)

    Q3 2024 Earnings Summary

    Reported on Jan 4, 2025 (Before Market Open)
    Pre-Earnings Price$110.79Last close (Nov 14, 2023)
    Post-Earnings Price$126.08Open (Nov 15, 2023)
    Price Change
    $15.29(+13.80%)
    • Target is focused on both top-line growth and profitability, with a laser focus on improving traffic, building the top line, and expanding profitability. They are not satisfied with current top-line performance and are committed to improving it.
    • Sequential improvement in traffic, with traffic improving quarter-over-quarter at a slightly faster rate than the top line did. The company is excited about investments to turn traffic back in their favor over time.
    • Strong commitment to long-term growth initiatives, with capital expenditures of $3 to $4 billion planned for next year, reflecting continued investment in growth-driving areas. They are pleased with the almost $5 billion of investments this year and the returns they will drive.
    • Three important bear case points for Target Corporation ($TGT) based on the Q&A section:*
    • Sales decline of around 5% in Q3 and similar guidance for Q4, indicating continued pressure on top-line performance.
    • Seven consecutive quarters of declines in discretionary goods, both in dollars and units, suggesting ongoing challenges in key product categories.