Target just released its earnings report for the second quarter of 2022. Here’s how much you’d have if you’d invested $1,000 into the company a year ago.
The company predicts that sales growth and profit margins are expected to recover in the back half of the year as it makes room for products shoppers are searching for, such as household essentials and school supplies.
This is a big change from a few years ago. During the height of the Covid-19 pandemic, Target's 2020 sales grew by over $15 billion, boosted by a surge of online sales and use of its curbside pickup service. That's more growth in one year than the retailer has experienced over the past decade. If you're interested in investing in Target or another company, remember: Given the unpredictability of the stock market, you shouldn't attempt to use a stock's past performance to predict how well it'll do in the future.
For most investors, a passive investment strategy makes sense over selecting individual stocks. To that, try investing in an index fund like the S&P 500, which tracks the stock performance of 500 large American companies. Although the S&P 500 has shrunk by 4.36% compared to last year, the index has grown by 73.59% over the past five years and increased by 202.67% over the past decade.
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