.August 21, 2024 12:23:00 PM

Target Corporation (NYSE:TGT) experienced a 16% surge in stock value following strong second-quarter results, surpassing earnings and revenue expectations. Earnings per share (EPS) reached $2.57, exceeding the projected $2.19, with revenue hitting $25.45 billion, slightly above the anticipated $25.2 billion. Comparable sales rose by 2%, driven by a 3% increase in customer traffic, while online sales saw an 8.7% increase. CEO Brian Cornell highlighted improved operating margins and a 40% year-over-year EPS growth. Target adjusted its full-year profit outlook, now expecting adjusted EPS between $9.00 and $9.70.