Shares of Target Corp. slipped 0.4% in premarket trading Wednesday, after the discount retailer reported fiscal first-quarter profit and sales that beat...
Shares of Target Corp. TGT slipped 0.4% in premarket trading Wednesday, after the discount retailer reported fiscal first-quarter profit and sales that beat expectations and reiterated its full-year outlook, while providing a downbeat second-quarter profit view due to “softening sales trends.” Net income for the quarter to April 29 fell to $950 million, or $2.05 a share, from $1.01 billion, or $2.16 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $2.
” Net income for the quarter to April 29 fell to $950 million, or $2.05 a share, from $1.01 billion, or $2.16 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $2.05 beat the FactSet consensus of $1.77. Total revenue increased 0.6% to $25.32 billion, above the FactSet consensus of $25.26 billion. Same-store sales grew 0.7% to exceed the FactSet consensus for a 0.2% rise, as traffic rose 0.9%.
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