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Home » Target’s (TGT) CEO Brian Cornell on Q2 2014 Results – Earnings Call Transcript

Target’s (TGT) CEO Brian Cornell on Q2 2014 Results – Earnings Call Transcript

Source: Seeking Alpha

Target Corporation (NYSE:TGT)

Q2 2014 Earnings Conference Call

August 20, 2014 10:30 ET

Executives

John Hulbert – Senior Director, Investor Communications

Brian Cornell – Chairman and Chief Executive Officer

John Mulligan – Chief Financial Officer

Kathee Tesija – Chief Merchandising and Supply Chain Officer

Analysts

Wayne Hood – BMO Capital

David Strasser – Janney

Matthew Fassler – Goldman Sachs

Greg Melich – ISI Group

Matt Nemer – Wells Fargo Securities

Matt McClintock – Barclays

Simeon Gutman – Morgan Stanley

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Target Corporation Second Quarter Earnings Release Conference Call. During the presentation, all participants will be in a listen-only mode. Afterwards, we will invite you to participate in a question-and-answer session. (Operator Instructions) As a reminder, this conference is being recorded Wednesday, August 20, 2014.

I would now like to turn the conference over to Mr. John Hulbert, Senior Director, Investor Communications. Please go ahead, sir.

John Hulbert – Senior Director, Investor Communications

Good morning and thank you for joining us on our 2014 second quarter earnings conference call. On the line with me today are Brian Cornell, Chairman and Chief Executive Officer; John Mulligan, Chief Financial Officer; and Kathee Tesija, Chief Merchandising and Supply Chain Officer.

This morning, Brian will provide his initial impressions on joining Target and his priorities going forward, then Kathee will discuss results in the U.S and Canada and plans for the third quarter and beyond, and finally, John will provide more detail on our financial performance, along with our financial outlook for the third quarter and the full year. Following their remarks, we will open the phone lines for a question-and-answer session.

As a reminder, we are joined on this conference call by investors and others who are listening to our comments via webcast. Following this conference call, John and I will be available throughout the day to answer any follow-up questions you may have. Also as a reminder, any forward-looking statements that we make this morning are subject to risks and uncertainties, the most important of which are described in our SEC filings. Finally, in these remarks, we refer to adjusted earnings per share, which is a non-GAAP financial measure. A reconciliation to our GAAP EPS is included in this morning’s press release posted on our Investor Relations website.

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