Target Corporation (NYSE:TGT) cleared breakeven Tuesday on reporting fourth-quarter and full-year 2019 results. The company reported GAAP earnings per share (EPS) from continuing operations of $1.63 in fourth quarter and $6.34 for full-year 2019, compared with $1.52 and $5.50 in 2018, respectively.
Fourth quarter Adjusted EPS were $1.69, compared to $1.53 in the prior-year quarter, and full-year Adjusted EPS were $6.39, compared with $5.39 in 2018.
The Company's total comparable sales grew 1.5% in the fourth quarter, reflecting comparable digital sales growth of 20%. Total revenue of $23.4 billion grew 1.8% compared with last year, reflecting sales growth of 1.8% and a 9.3% increase in other revenue. Operating income was $1,198 million in fourth quarter 2019, up 7.3% from $1,117 million in 2018.
In Q4 2020, Target expects a low-single digit increase in comparable sales and a mid-single digit increase in operating income. Target expects both GAAP EPS from continuing operations and Adjusted EPS of $1.55 to $1.75.
For full-year 2020, Target expects a low-single digit increase in comparable sales and a mid-single digit increase in operating income. The company expects both GAAP EPS from continuing operations and Adjusted EPS of $6.70 to $7.00.
Said CEO Brian Cornell, "The strategic investments we've made over the past several years to elevate the shopping experience, curate our multi-category assortment at scale, and deliver ease and convenience through our fulfillment capabilities are deepening our relationship with our guest.
"As we look ahead to 2020 and beyond, we are well positioned to build on this strong foundation to further differentiate Target and drive long-term, profitable growth."
TGT shares acquired 64 cents to $109.66
