Target's Turnaround Is Finally Here. So Why Is the Stock Down?

After years of slogging through the retail wilderness, Target (NYSE: TGT) had good news for investors on Wednesday: It's alive.The retailer surprised the market with comparable sales up 5.6%, its best performance in years, on a 4.7% increase in comparable traffic, showing that customers are returning to its stores. New CEO Michael Fiddelke said that the results "were stronger than expected, providing encouraging early signs that our clarified strategy is resonating with our guests."Overall revenue rose 6.7% to $25.44 billion, which easily beat estimates at $24.66 billion. The company also delivered margin improvement with an adjusted operating margin up from 3.7% to 4.5%, and adjusted earnings per share rose from $1.30 to $1.71, ahead of the consensus at $1.46.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool