(AOF) – Target soars 12.06% to $168.64 on the New York stock exchange thanks to a better-than-expected quarterly publication. The American distributor published a net profit of $1.38 billion, or $2.98 per share, for its fourth quarter, compared to $1.89 per share recorded a year earlier and a consensus of $2.42. . Its turnover showed an improvement of 1.7% to 31.92 billion dollars against forecasts of 31.83 billion dollars.
Its comparable sales fell by 4.4% over the period to $31.9 billion, compared to -4.6% expected. After falling 6% in the previous quarter, online sales fell 0.7%.
Target generated a margin of 25.6% over the period concerned compared to 22.7% a year earlier.
In terms of outlook, annual adjusted earnings per share are expected between $8.60 and $9.60, compared to a consensus of $9.15. Like-for-like revenues are expected to be stable at worst and up 2% at best.
For the first quarter, the distributor expects a drop in comparable sales of 3% to 5%. Adjusted earnings per share should be between $1.70 and $2.10.
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