On Nov. 14, Target (NYSE:TGT) released third-quarter earnings for the period ended Oct. 28.

  • Net sales grew by 11.2%, including a 4.6% increase in comparable store sales, which is down from 5.9% comps year over year.
  • Target increased the number of stores by 94, for a total of 1,494 stores across the nation. Of these 94 stores, 75 were merchandise stores and 19 were SuperTarget stores.
  • Target currently has a four-star ranking in Motley Fool CAPS, with 372 ratings. In those ratings, 353 community members think Target hits the bull's-eye, including all 86 All-Stars that rated Target.

(Figures in millions, except per-share data)

Income Statement Highlights

Q3 2006

Q3 2005

Change

Sales

$13,570.0

$12,206.0

11.2%

Net Profit

$506.0

$435.0

16.3%

EPS

$0.59

$0.49

20.4%

Diluted Shares

864.4

887.0

(2.5%)



Get back to basics with a look at the income statement.

Margin Checkup

Q3 2006

Q3 2005

Change*

Gross Margin

34.5%

34.2%

0.3

Operating Margin

7.1%

6.8%

0.3

Net Margin

3.7%

3.6%

0.1

*Expressed in percentage points

Margins are the earnings engine. See how they work.

Balance Sheet Highlights

Assets

Q3 2006

Q3 2005

Change

Cash + ST Invest.

$451.0

$503.0

(10.3%)

Accounts Rec.

$5,634.0

$5,127.0

9.9%

Inventory

$7,797.0

$7,488.0

4.1%



Liabilities

Q3 2006

Q3 2005

Change

Accounts Payable

$7,086.0

$6,966.0

1.7%

Long-Term Debt

$9,123.0

$9,143.0

(0.2%)



Learn the ways of the balance sheet.

Cash Flow Highlights

YTD 2006

YTD 2005

Change

Cash From Ops.

$1,704.0

$1,820.0

(6.4%)

Capital Expenditures

$3,004.0

$2,657.0

13.1%

Free Cash Flow

($1,300.0)

($837.0)

N/A



Find out why Fools always follow the money.

Related Companies:

  • Costco (NASDAQ:COST)
  • Wal-Mart (NYSE:WMT)
  • BJ's Warehouse (NYSE:BJ)

Related Foolishness:

Wal-Mart is a Motley Fool Inside Value recommendation. Costco is a Motley Fool Stock Advisor pick.

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