Target Corporation (NYSE:TGT) reported its results for the fourth quarter. Net income for the discount store fell to $981 million ($1.45 per share) vs. $1.03 billion ($1.45 per share) a year earlier. This is a decline of 5.2% from the year-earlier quarter. Revenue rose 3.3% to $20.94 billion from the year-earlier quarter. Target Corporation reported adjusted net income of $1.49 per share. By that measure, the company beat the mean estimate of $1.39 per share. Analysts were expecting revenue of $21.2 billion.
“Target generated strong financial performance in 2011, overcoming sluggish economic growth, restrained consumer spending and an intensely promotional holiday season,” said Gregg Steinhafel, chairman, president, and chief executive officer of Target Corporation.
Competitors to Watch: Wal-Mart Stores, Inc. (NYSE:WMT), Costco Wholesale Corp. (NASDAQ:COST), Dollar Tree, Inc. (NASDAQ:DLTR), Dollar General Corp. (NYSE:DG), Gordmans Stores, Inc. (NASDAQ:GMAN), Wal-mart de Mexico S A B de C V (WMMVY), Family Dollar Stores, Inc. (NYSE:FDO), 99 Cents Only Stores (NYSE:NDN), Fred’s, Inc. (NASDAQ:FRED), and BJ’s Wholesale Club, Inc. (NYSE:BJ).
Liberty Interactive Corporation (NASDAQ:LINTA) reported its results for the fourth quarter. Net income for the catalog and mail order house rose to $408 million vs. $396 million (65 cents per share) in the same quarter a year earlier. This marks a rise of 3% from the year-earlier quarter. Revenue rose 6.7% to $3.08 billion from the year-earlier quarter. Analysts were expecting revenue of $3.05 billion.
“QVC finished the year strong with impressive Q4 results, particularly in the US and Japan, despite a challenging macroeconomic environment,” stated Greg Maffei, Liberty Interactive President and CEO. “We made substantial repurchases of our shares, spending $257 million. Separately, today we announced our board’s approval of the recapitalization of our common stock into two tracking stocks, Liberty Interactive and Liberty Ventures. We expect this recapitalization to highlight each tracking stock’s operations and financial aspects of the attributed assets and provide investor choice while maintaining an optimal capital and tax-efficient structure.”
Competitors to Watch: Liberty Media Corp (NASDAQ:LSTZA), Liberty Media Corp (NASDAQ:LCAPA), Outdoor Channel Hldgs., Inc. (NASDAQ:OUTD), Scripps Networks Interactive, Inc. (NYSE:SNI), CBS Corporation (NYSE:CBS), Crown Media Holdings, Inc (NASDAQ:CRWN), Discovery Communications Inc. (NASDAQ:DISCA), NTN Buzztime, Inc. (AMEX:NTN), and ValueVision Media, Inc. (NASDAQ:VVTV).
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