Target Corporation (NYSE:TGT)’s stocks again become bullish just after the release of the company’s statement on the second quarter 2014 earnings on Wednesday.
According to executive vice president and chief financial officer of the company, John Mulligan,
“While results from the quarter didn’t meet our expectations, we are seeing some early signs of progress as we work to improve results in the U.S. and Canada,”
John Mulligan informed that both sales and traffic improved by 1% in July. August sales result is moving with a more impressive trend because of the demand for back-to-school items. The inflation and less employment opportunity was the reason of depression in retail sales in US economy.
Target Corporation (NYSE:TGT) is the third largest US retail chain and operates in three segments: U.S. retail, U.S. Credit Card and Canadian retail. Target Corporation (NYSE:TGT) shares have been performing well since the beginning of the last week. The latest updated sales may foil the forecasted EPS of $0.66, dividend of $0.43 and revenue of $17.1 billion of fiscal quarter ending in May for the year 2015. Target Corporation (NYSE:TGT) has a current dividend yield of 3.51% and institutional holdings share of 87%.