Investing.com — Retailers are trading all over the place as quarterly results alternately hit records and miss estimates.
Target (NYSE:TGT) jumped 11% after reporting its strongest second quarter sales growth, up 24%, and profit, up 80%. Digital comparable sales rose 195%. Earnings per share of $3.38 beat the estimated $1.58 on sales of $22.98 billion, which beat the $19.87 billion forecast.
Lowe’s (NYSE:LOW) reported earnings per share of $3.75 that beat the estimated $2.83 on sales of $27.3 billion, which compares to the expected $23.88 billion. But shares rose a mere 0.6%, still better than Home Depot (NYSE:HD) which, despite reporting a hugely strong quarter on Tuesday, has been trading lower.
On the opposite end, TJX (NYSE:TJX), which operates discount stores TJ Maxx and Marshalls, fell almost 8% after reporting a worse-than-expected loss per share of 18 cents, compared to the estimated 11-cent loss. Revenue of $6.67 billion beat the expected $6.46 billion.
Ross Stores (NASDAQ:ROST) and Burlington followed TJX lower, trading down 4.6% and 8.2%, respectively.