Target generates ‘very healthy’ cash flow through first half of 2018

By Devika Patel

Knoxville, Tenn., Aug. 22 – Target Corp. has been generating “very healthy” cash flow, which management has used to return capital to shareholders and make investments.

“Our business continues to generate very healthy cash flow,” executive vice president and chief financial officer Cathy R. Smith said on the company’s second quarter ended Aug. 4 earnings conference call on Wednesday.

“Specifically, through the first half of 2018, our continuing operations have generated more than $2.7 billion in cash, providing ample capacity to make meaningful investments in our business while returning capital to shareholders,” she said.

Cash and cash equivalents were $1.18 billion as of Aug. 4, compared to $2,643,000,000 as of Feb. 3.

Long-term debt and other borrowings totaled $10,108,000,000 as of Aug. 4, compared to $11,117,000,000 as of Feb. 3.

Target is a discount merchandise retailer based in Minneapolis.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.