Target’s Q2 financial report for 2024 is released, with both revenue and profits increasing!

It is learned that on August 21, the US retail giant Target released its second quarter financial report for 2024. The report shows that Target's second quarter revenue was US$25.45 billion, a year-on-year increase of 3%.

Here's a summary of Target's second-quarter financial results:

Revenue was $25.45 billion, up 3% year-over-year

Net profit was US$1.19 billion, up 43% year-on-year

Operating revenue was US$1.635 billion, a year-on-year increase of 36.6%

Operating income margin was 6.4%, up 160 basis points year-over-year

Comparable sales increased by 2.0%, with offline sales up 0.7% and online sales up 8.7%.

Target Chairman and CEO Brian Cornell said that Target expanded its operating profit margin while returning to growth in the second quarter, and the growth was driven entirely by traffic in stores and online channels, and same-day delivery services achieved double-digit growth. In addition, non-essential categories showed an improving trend, especially in the clothing field, and beauty products continued to maintain strong momentum.

Looking ahead, Target expects full-year 2024 comparable sales growth of 0% to 2%, with GAAP and adjusted EPS of $9.00 to $9.70, and third-quarter comparable sales growth of 0% to 2%, with GAAP and adjusted EPS of $2.10 to $2.40.

Author ✎ Rayna/

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