On Wednesday, Shares of Target Corp. (NYSE:TGT), gained 0.71% to $80.87.
Target Corporation stated second quarter 2015 adjusted earnings per share from ongoing operations of $1.22, up 20.6 percent from $1.01 in 2014. GAAP EPS from ongoing operations were $1.21, contrast with $0.61 in second quarter 2014.
Fiscal 2015 Earnings Guidance
In third quarter 2015, Target anticipates Adjusted EPS of $0.79 to $0.89 contrast with $0.79 in third quarter 2014.
The Company now anticipates full-year 2015 Adjusted EPS of $4.60 to $4.75, contrast with preceding guidance of $4.50 to $4.65.
Segment Results
Second quarter 2015 sales raised 2.8 percent to $17.4 billion from $17.0 billion last year, reflecting a 2.4 percent enhance in comparable sales combined with sales from new stores. Digital channel sales grew 30 percent and contributed 0.6 percentage points to comparable sales growth. Segment earnings before interest expense and income taxes (EBIT) were $1,350 million in second quarter 2015, an enhance of 17.5 percent from $1,149 million in 2014.
Second quarter EBITDA and EBIT margin rates were 10.9 percent and 7.7 percent, respectively, contrast with 9.9 percent and 6.8 percent in 2014. Second quarter gross margin rate was 30.9 percent, contrast with 30.4 percent in 2014, reflecting the benefit of annualizing heightened promotional markdowns in second quarter 2014, and a favorable merchandise mix in second quarter 2015. Second quarter SG&A expense rate was 19.9 percent in 2015, contrast with 20.5 percent in 2014, reflecting ongoing cost savings initiatives and expense timing.
Target Corporation operates as a general merchandise retailer in the United States and Canada. It offers household essentials, counting pharmacy, beauty, personal care, baby care, cleaning, and paper products; music, movies, books, computer software, sporting goods, and toys; electronics, such as video game hardware and software; and apparel for women, men, boys, girls, toddlers, infants, and newborns, in addition to intimate apparel, jewelry, accessories, and shoes.
Shares of Schlumberger Limited (NYSE:SLB), declined -2.98% to $80.67, during its last trading session.
OneSubsea®, a Cameron (CAM) and Schlumberger (SLB) company, was awarded a contract in the second quarter of 2015 to supply subsea processing systems for the Shell Offshore Inc. Stones development in the Gulf of Mexico. This award follows a Technology Qualification Program and will deliver the industry’s first 15,000-psi subsea pump system, to be installed in the Gulf of Mexico at about 9500 ft (2900 m).
The subsea processing systems scope of supply comprises a dual pump station with two 3-megawatt single-phase pumps and two subsea control modules, a topside power and control module, a barrier-fluid hydraulic power unit with associated spares in addition to installation and maintenance tools. Manufacturing and testing will take place at OneSubsea’s processing center of excellence facility in Horsoy, Norway.
The system will be tied back to the Stones FPSO. The system is predictable to be ready for delivery from Horsoy in early 2018.
Schlumberger Limited supplies technology, integrated project administration, and information solutions to the oil and gas exploration and production industries worldwide. The company operates through Reservoir Characterization Group, Drilling Group, and Production Group segments.
Finally, PolyOne Corporation (NYSE:POL), ended its last trade with -0.64% loss, and closed at $34.12.
PolyOne Corporation continues to take planned integration actions with the former Spartech business to improve service, quality and on-time delivery to customers. The company is further realigning assets and investing in commercial and operational excellence initiatives to streamline production and gain efficiencies.
PolyOne continues to make investments in new equipment, information systems and processes at several DSS manufacturing plants. Examples comprise further capacity improvement and technology expansion planned for its Greenville, Ohio facility with the addition of new specialty PETG and Royalite™ sheet manufacturing lines in 2016, and increasing prototyping capability at its St. Louis Innovation Center to assist accelerate the design and formulation process for customers.
In addition, PolyOne recently commenced the closure of its Granby, Quebec, Canada facility and will shift production to other existing sheet and rollstock facilities within the company’s manufacturing network.
PolyOne Corporation provides specialized polymer materials, services, and solutions with operations in specialty polymer formulations, color and additive systems, plastic sheet and packaging solutions, and polymer distribution.
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