The company reported adjusted earnings that came in at $2.67 per share, which topped the Street consensus forecast of $2.54 per share.
"Following years of investment to build a durable, scalable and sustainable business model, we saw record growth in 2020, as our guests turned to Target to safely provide for their families throughout the pandemic," said CEO Brian Cornell. "With the strength of our unique, multi-category assortment and the flexibility we offer through our reliable and convenient fulfillment options, we gained nearly $9 billion in market share in 2020, and grew our revenue by $15 billion, which is more than the 11 prior years combined."
Kohl's posted adjusted earnings of $346 million, or $2.22 a share. The earnings included a tax-benefit gain of $1.15 a share. Sales came in at $6.14 billion vs. $6.83 billion a year ago.
"After an extraordinary year managing through the pandemic, we ended the year in a very solid financial position, and we enter 2021 with strong momentum," CEO Michelle Gass said in a statement.
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