Wow, what low standards you are have. The company gerrymandered an earnings beat on NEGATIVE 6.7% sales growth numbers, on top of Q3 comps of -0.2% — the high end of the range. Ooh, how exciting.
Guidance is in line with analyst estimates and comps are expected to be -1%. Fucking awesome.
The stock is bid up by 9% in the pre market.
Reports Q3 (Oct) earnings of $1.04 per share, excluding non-recurring items, $0.21 better than the Capital IQ Consensus of $0.83; revenues fell 6.7% year/year to $16.44 bln vs the $16.3 bln Capital IQ Consensus. Q3 comparable sales decreased 0.2 percent, near the high-end of the guidance range of flat to down 2 percent.
Co issues in-line guidance for Q4, sees EPS of $1.55-1.75 vs. $1.60 Capital IQ Consensus Estimate; Target raised its expectations for fourth quarter comparable sales and now expects growth in the range of (1.0) percent to 1.0 percent, compared with prior guidance of (2.0) to flat.
Fourth quarter and full-year 2016 GAAP EPS from continuing operations may include the impact of unforeseen discrete items which may be excluded in calculating Adjusted EPS. The Company is not currently aware of any such discrete items beyond those already reported in the first, second and third quarters of 2016. “Favorable gross margin mix and efficient execution by our team drove third quarter EPS performance well beyond our guidance. We also continued to gain market share in key Signature Categories and saw unexpectedly strong sales in the Back-to-School and Back-to-College season.”
On the plus side, back to school sales were strong — taking share away from the helpless Staples.
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$WMT tried for a sympathy fuck and was rebuffed