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Target trumps Wal-Mart with Q2 success
Minneapolis – Target Corp. exceeded Wall Street projections with net earnings of $753 million in the second quarter of fiscal 2015, a 221% increase from $234 million the same period the prior fiscal year. Declining selling, general and administrative (SG&A) expenses and loss from discontinued operations helped boost profits as sales climbed.
Target reported net sales of $17.4 billion, up 2.8% over the same period last year.
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American Eagle soars past Street in Q2
Pittsburgh – American Eagle Outfitters Inc. flew high in the second quarter of fiscal 2015, surpassing Wall Street expectations for profit and revenue. AEO reported net income of $33.26 million, an almost six-fold increase from $5.81 million in the prior year period.
The growth pace of cost of sales and expenses was slower than that of sales, helping AEO report such a dramatic rise in profit. Operating income also significantly improved. Total net revenue increased 12% to $797 million from $711 million, aided by an 11% jump in same-store sales.