Target's Sales Decline And EPS Miss: Why Analysts Remain Optimistic
Target's Sales Decline And EPS Miss: Why Analysts Remain Optimistic
Target Corp (NYSE:TGT) reported a first-quarter FY24 sales decline of 3.1% year-on-year to $24.531 billion and a comparable sales decline of 3.7%.
塔吉特公司（紐約證券交易所代碼：TGT）報告稱，24財年第一季度的銷售額同比下降3.1％，至245.31億美元，同比銷售額下降3.7％。
The company posted an adjusted EPS of $2.03, missing the consensus estimate of $2.06. The following are the reactions of analysts after the earnings.
該公司公佈的調整後每股收益爲2.03美元，未達到市場普遍預期的2.06美元。以下是分析師在業績後的反應。
BofA Securities – Reiterates Buy, price target of $190.00
美銀證券——重申買入，目標股價爲190.00美元
Analyst Robert F. Ohmes said the miss versus consensus in the adjusted EPS was driven by higher selling, general and administrative costs as a percentage of sales, as gross margin of 27.7% came in ahead.
分析師羅伯特·奧姆斯表示，調整後的每股收益未達到預期水平是由銷售、一般和管理成本佔銷售額的百分比上升所致，毛利率爲27.7％。
The same-store sales decline included a 1.9% decline in both traffic & ticket, noted the analyst.
分析師指出，同店銷售額下降包括流量和門票下降1.9％。
While discretionary sales remained soft, sales trends continued to improve sequentially, led by an improvement of 4% in apparel versus F4Q24, asserted the analyst.
分析師稱，儘管全權銷售仍然疲軟，但銷售趨勢繼續連續改善，其中服裝與 F4Q24 相比增長了4％。
Also, digitally originated comp sales increased +1.4%, a positive inflection versus five consecutive quarters of digital declines, said the analyst.
此外，該分析師表示，數字源自公司的銷售額增長了1.4％，與連續五個季度的數字下降相比，這是一個積極的轉折。
While near-term sales remain pressured, the analyst notes TGT's focus on value positions it well for share gains going forward.
儘管短期銷售仍面臨壓力，但分析師指出，TGT對價值的關注使其爲未來的股價上漲做好了準備。
Telsey Advisory Group – Reiterates Outperform, price target of $195.00
泰爾西諮詢集團——重申跑贏大盤，目標股價爲195.00美元
Analyst Joseph Feldman said that broadly, pressure remained on discretionary categories, partly offset by outperformance in beauty.
分析師約瑟夫·費爾德曼表示，總體而言，自由裁量權類別仍然面臨壓力，部分被美容領域的跑贏大盤所抵消。
The analyst expects to see the comp return to positive territory in 2Q24 and ahead.
該分析師預計，在24年第二季度及以後，業績將恢復到正值區間。
Longer term, the analyst said Target should gain market share, supported by ongoing strategies of price investments, private brands, new stores and remodels, fulfillment/supply chain enhancements, loyalty programs, digital, and Target + marketplace.
該分析師表示，從長遠來看，在價格投資、自有品牌、新門店和改造、配送/供應鏈改善、忠誠度計劃、數字和Target +市場等持續戰略的支持下，塔吉特應該獲得市場份額。
Target stock has lost more than 5% in the last 12 months. Investors can gain exposure to the stock via Consumer Staples Select Sector SPDR Fund (NYSE:XLP) and Vanguard Consumer Staples ETF (NYSE:VDC).
在過去的12個月中，目標股票下跌了5％以上。投資者可以通過必需消費品精選板塊SPDR基金（紐約證券交易所代碼：XLP）和Vanguard Consumer Staples ETF（紐約證券交易所代碼：VDC）獲得股票敞口。
Price Action: TGT shares are trading lower by 7.45% at $144.18 at the last check Wednesday.
價格走勢：在週三的最後一次支票中，TGT股價下跌7.45％，至144.18美元。
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譯文內容由第三人軟體翻譯。