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塔吉特公司Target Corp.(TGT)2025财年第三季度财报电话会议纪要(英文版)(18页).pdf

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1、REFINITIV STREETEVENTSEDITED TRANSCRIPTTGT.N-Q3 2025 Target Corp Earnings CallEVENT DATE/TIME:NOVEMBER 19,2025/1:00PM GMTOVERVIEW:Company SummaryREFINITIV STREETEVENTS|Contact Us2025 Refinitiv.All rights reserved.Republication or redistribution of Refinitiv content,including by framing or similar me

2、ans,is prohibited without the prior writtenconsent of Refinitiv.Refinitiv and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.CORPORATE PARTICIPANTSJohn Hulbert Target Corp-Vice President,Investor RelationsBrian Cornell Target Corp-Chairman of the Board,Chief E

3、xecutive OfficerMichael Fiddelke Target Corp-Chief Operating Officer,Executive Vice PresidentRick Gomez Target Corp-Chief Commercial OfficerJim Lee Target Corp-Executive Vice President and Chief Financial OfficerCONFERENCE CALL PARTICIPANTSSimeon Gutman Morgan Stanley-AnalystCorey Tarlowe Jefferies

4、LLC-AnalystJoseph Feldman Telsey Advisory Group LLC-AnalystMichael Baker DA Davidson&Co-AnalystKate McShane Goldman Sachs Group Inc-AnalystMichael Lasser UBS AG-AnalystPRESENTATIONOperatorLadies and gentlemen,thank you for standing by.Welcome to the Target Corporation third-quarter earnings release

5、conference call.(OperatorInstructions)As a reminder,this conference is being recorded Wednesday,November 19,2025.I would now like to turn the conference over to Mr.John Hulbert,Vice President,Investor Relations.Please go ahead,sir.John Hulbert-Target Corp-Vice President,Investor RelationsGood mornin

6、g,everyone,and thank you for joining us on our third-quarter 2025 earnings conference call.On the line with me today are BrianCornell,Chair and Chief Executive Officer;Michael Fiddelke,Chief Operating Officer;Rick Gomez,Chief Commercial Officer;and Jim Lee,ChiefFinancial Officer.In a few minutes,Bri

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1. **业绩与战略**:Target Q3 2025净销售额同比下降1.5%,可比销售额降2.7%,但数字渠道可比销售额增2.4%(同日配送增35%)。CEO Brian Cornell宣布卸任,COO Michael Fiddelke接棒,聚焦三大优先事项:强化设计主导的 merchandising 权威、提升购物体验、加速技术应用。 2. **关键举措**: - **商品与体验**:推出AI驱动的“Target Trend Brain”预测趋势,优化库存(5000核心商品上架率提升150基点);芝加哥试点门店分工模式,优化履约效率。 - **投资与成本**:2026年资本支出增至50亿美元(同比增25%),总部裁员1800人(占8%),预计年化节省1.8亿美元。 - **假日季**:推出2万款新品(半数为独家),感恩节套餐低于20美元,玩具、家居等品类强调性价比与趋势性。 3. **财务展望**:全年调整后EPS预期7-8美元(下修区间),Q3调整后EPS为1.78美元(同比降4%)。
**Target增长计划?** **AI如何助力零售?** **假日季策略揭秘?**
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