Is Target Unstoppable After Another Big Earnings Beat?
The COVID-19 pandemic decimated sales and earnings for numerous retailers last year, while unleashing tremendous growth for a select few. Target (NYSE: TGT) was one of the biggest beneficiaries. During fiscal 2020, revenue surged 20% to $93 billion.
All told, Target grew sales by over $15 billion last year, more than in the prior 11 years combined. Much of this growth took analysts by surprise, allowing the discount retail giant to post a string of massive earnings beats.
Target's momentum continued in the first quarter, even as it started to face tougher year-over-year comparisons on the top line. But with Target stock having rallied 76% since the beginning of 2020 -- recently reaching a new all-time high -- the key question is whether the company will continue delivering strong revenue and earnings growth in the years ahead. Let's take a look.
Source Fool.com
