Goal’s second quarter earnings, by which comparable gross sales grew 9.8% and digital gross sales has grown almost 55% in 2021, are proof the retailer’s “sturdy mannequin” and continued funding in know-how are paying off, in line with CEO Brian Cornell.
The earnings report launched this week included the next highlights in a press launch:
- Whole income of $25.2 billion grew 9.5% in contrast with final 12 months, pushed by complete gross sales progress of 9.4% and a 20.0% improve in different income.
- Working earnings was $2.5 billion in second quarter 2021, up 7.2percentfrom $2.3 billion in 2020.
- Second quarter GAAP EPS of $3.65 was 8.9% larger than final 12 months, and adjusted EP1 of $3.64 was 7.9% larger than final 12 months.
“Within the second quarter, our enterprise generated continued progress on prime of report will increase a 12 months in the past, reinforcing Goal’s management place in retail. We have spent years constructing and investing within the sturdy mannequin we’ve as we speak, which is supported by a differentiated technique and the very best staff in retail,” Cornell mentioned within the launch.
“Even after unprecedented progress over the past two years, we see rather more alternative forward of us, and we’re leaning into alternatives to spend money on the long-term progress and resiliency of our enterprise. Our staff and working mannequin can seamlessly adapt to modifications within the atmosphere, and we’re well-positioned to ship excellent efficiency within the again half of the 12 months.”
For the second half of 2021, Goal expects excessive single digit progress in comparable gross sales and a full 12 months working earnings margin fee of 8% or larger. Minneapolis-based Goal operates greater than 1,900 shops.