Home Wealth  Money Retail Earnings: Target, Abercrombie & Fitch

Retail Earnings: Target, Abercrombie & Fitch

Posted: Nov. 17th, 2011  |  By Forbes

powered by Forbes

RSS Syndicated News Email a Friend Suggest an Article Share Visit Website

Discount retailer Target reported fiscal third quarter earnings ahead of analyst forecasts today.

Profits rose to $555 million, or $0.82 per share, from $535 million, or $0.74 per share, in last year's third quarter. Adjusted earnings of $0.87 per share were well ahead of analyst expectations.

Sales rose 5.4%, to $16.05 billion, meeting analyst estimates, on same-store sales growth of 4.3%.

Target (nyse: TGT - news - people ) is looking for fourth quarter earnings of $1.43 to $1.53 per share, ahead of Wall Street estimates on the high end.

Rival Wal-Mart (nyse: WMT - news - people ) missed analyst expectations with its earnings report yesterday.

Also today, teen apparel retailer Abercrombie & Fitch (nyse: ANF - news - people ) posted fiscal third quarter earnings that rose to $50.9 million, or $0.57 per share, from $50 million, or $0.56 per share, last year.

Results fell short of analyst expectations, as margins declined.

Abercrombie had previously reported third quarter sales rose more than 20%, to $1.08 billion, on a 7% increase in same-store sales.

Rival apparel retailer Gap (nyse: GPS - news - people ) reports results tomorrow.

Market News Video produces and distributes online videos about stocks and investing.




Share on Facebook Share
See Next Article
Need to Get Away?
Top 10 Business Hotels
Who says you can’t mix business with pleasure?
Read More
More Articles from Forbes.com

advertisement
Quick Links
Autos
Boating
Real Estate
Luxury Travel
Fashion
Search Real Estate
Find Your Dream Home
Search for homes by
State, Country or Style.
Event Calendar
advertisement
Current News & Features
Photographer Adrien Broom Tackles the Snow White Mythology in New Photo Series
Miami Beach's Designer-Curated L’Atelier Residences Soar to $33M & Include a Hammock Garden
Rolls-Royce Put a Japanese Tea Garden in $1M Bespoke Phantom
Harman Kardon Partners With HTC for Pint-Sized H/K One Wireless Speaker
Crazy Crashes Drivers Have Walked (and Swam) Away From at the Monaco Grand Prix
The Don Stott Collection: A 50 Year Love Affair With Burgundy Wines
Started From The Bottom...Now We’re Here (At Sotheby’s in NYC)
Celebrating 10 Talented Women in Wine: Melissa Burr From Stoller Family Estate
Rolls-Royce Debuts $362K "Inspired by Fashion" Wraith, Models Not Included
Pilatus' New PC-24 Super Versatile Jet Gets a Round of Applause After Maiden Voyage in Switzerland
See the complete list
 
Featured Photo Gallery
See the complete list
THINGS WE LIKE