DOW RISES ��300 points thanks to TARGET & LOWE’S Earnings ��- RICH TV LIVE – AUGUST 21, 2019 – The good news for the market this morning comes from big-box retail —specifically Target (TGT – Free Report) and Lowe’s (LOW – Free Report) , which both outperformed expectations on top and bottom lines for their fiscal Q2 quarters. Zacks Rank #2 (Buy)-rated Target posted $1.86 per share versus $1.61 expected (+$1.47 from the year-ago quarter), on $18.42 billion in sales, which eked out a half-point beat. Lowe’s posted $2.15 per share versus $2.00 expected, on $20.99 billion in revenues, +0.07%.

Both companies have now topped expectations in 2 of the past 4 quarters, illustrating the challenges big-box retail has been facing over the past several quarters. But with trade war pressures with China continue — and may become exacerbated, depending on decision-making by the heads of both states — these earnings reports can be considered resounding successes. At this hour, Target is up 17% in the pre-market, while Lowe’s is +12.5%.

Target has also raised its forecast for fiscal 2020 by 15 cents a share following the quarterly release, though the company did indicate further tariffs might continue volatile trading conditions. Comps were up 3.4% year over year, with nearly half of those coming from in-store pickups from on-line orders. Lowe’s also improved comps, to 3.2%.

Should trading conditions persist for these companies from current trading rates, they may both expect to see their best day in the markets in more than a decade. As much as any recently reported company, with the exception of Walmart (WMT – Free Report) , Target and Lowe’s have proven the strength of the consumer in the face of retail headwinds many analysts expected to be more problematic.

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