Omnichannel

Target enjoys healthy Q3

November 24, 2021

Comparable Q3 sales grew 12.7%, digital comparable sales grew 29% and earnings per share was up 51.6% for retailer Target in Q3.

The robust financials, which included $25.65 billion in revenue, were driven by same-day digital fulfillment and consumer store traffic, according to a press release.

Earnings per share were $3.03 adjusted versus $2.83, expected and net income increased to $1.49 billion, or $3.04 per share, from $1.01 billion, or $2.01 per share compared to 2021.

The company continues to expect its full-year operating income margin rate will be 8% or higher.

"We are protecting prices," Target CEO Brian Cornell told analysts in the earnings call, according to a CNBC report. "It's as important to our guests this year as safety has been throughout the pandemic."