(Target) Target Corporation reported total revenue of $25.7 billion in the third quarter of 2021, a 13.3% increase from last year.
Comparable sales increased by 12.7% in the third quarter, with digital sales accounting for 29% of the increase while store sales contributed 9.7%.
Total revenues in the nine months period were $75.0 billion, an increase of 15% from the prior year.
Operating income was reported at $2.0 billion in the third quarter, an increase of 3.9% from last year. Nine-month operating income was $6.85 billion, an increase of 45.7% from the prior year.
The company’s net earnings were reported at $1.488 billion in the third quarter, up 46.8% from the prior year. Net earnings in the nine-month period were $5.402 billion, an increase of 80.8% from the prior year.
Target now forecasts comparable sales in the high single-digit to low double-digit growth in the fourth quarter, compared to previously guided high single-digit jump. FY21 operating income margin rate is expected at 8% or more.
TGT: NYSE is down -4.80%.
