Fri, May 9, 9:06 PM (14 days ago)
**Company:** Target Corporation (TGT) **Quarterly Financial Summary:** Target Corporation reported strong Q4 2023 results, driven by robust sales and strategic initiatives. Revenue increased by 1.8% to $31,334,000, reflecting consistent consumer demand and effective inventory management. Comparable sales grew by 0.7%, with digital sales up by 7%. Gross margin rate expanded by 40 basis points to 28.1%, while operating margin rate was 6.9%. Net earnings rose by 14.6% to $1,264,000, or $2.92 per share, beating analyst estimates. Cash flow from operations was $3,031,000, up from $2,541,000 in the prior year, highlighting strong liquidity. The company repurchased $1,688,000 of its common stock and paid $347,000 in dividends. Target's balance sheet remains solid, with $2,921,000 in cash and short-term investments and $10,266,000 in long-term debt. Looking ahead, Target expects full-year 2024 revenue growth of 1.5% to 3.5% and adjusted earnings per share of $8.50 to $9.30. The company continues to invest in technology, supply chain, and store formats to drive long-term growth. However, uncertainties related to inflation, consumer spending, and global supply chain disruptions may impact future operations. Target's strategic focus on omnichannel capabilities and exclusive brands positions it well to navigate these challenges.