Target breaks through supply chain difficulties! Revenue in 2021 exceeds $100 billion!

It is learned that Target announced its Q4 2021 and 2021 annual financial reports. Target stated that in 2021, with the increase in wages and the increase in the number of employees, as well as the increase in supply chain costs and freight costs, sales costs increased. Since 2019, Target's sales have increased by more than US$27 billion. The following is a summary of Target's financial report:

Summary of 2021 Q4 financial report:

• Revenue of $31 billion, up 9.4% year-on-year

• Online sales increased by 9.4% year-on-year

• Net profit was $1.54 billion

• Profit margin was 6.8%, up from 6.5% in Q4 2020

2021 Financial Report Summary:

• Revenue of $106 billion, up more than 35%

• Sales increased to $106.4 billion, up 13.2% year-over-year

• Digital sales grew by nearly $13 billion

It is learned that Target paid $432 million in dividends and repurchased $2.3 billion in shares in the fourth quarter of 2021. Target expects revenue growth in fiscal 2022 to be in the low-to-mid single digits, with a profit margin of around 8%. It is also expected that its profit margin in the first quarter of 2022 may be lower than the 9.8% in the first quarter of 2021. Target plans to invest $5 billion in physical stores, new brands and expanded online delivery capabilities in 2022.

Editor ✎Estella/

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