Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Target March Comps. Up; Revises Q1 EPS View - Quick Facts

RELATED NEWS
Trade TGT now with 

Target Corporation (TGT: Quote) said its comparable-store sales for March increased 7.3 percent, reflecting a healthy underlying trend combined with the benefit of an earlier Easter and favorable weather.

The Minneapolis, Minnesota-based company's monthly net retail sales totaled $6.427 billion, a rise of 7.9 percent from $5.955 billion last year.

The company, which offers products primarily under Target and SuperTarget trademarks, said it now expects first-quarter adjusted earnings per share of $1.04 - $1.10, versus its prior outlook of $0.97 - $1.07. The company currently expects GAAP earnings per share in the range of $0.96 - $1.02, compared with prior guidance range of $0.88 - $0.98. The company attributed the updated earnings forecast to stronger-than-expected sales through March.

On average, 22 analysts polled by Thomson Reuters expect the company to report earnings of $0.97 per share for the first quarter. Analysts' estimates typically exclude special items.

Target now sees a revised first quarter comparable-store sales increase of 5 to 6 percent, reflecting a low to mid single-digit increase in our April comparable-store sales.

TGT closed Wednesday's trading at $57.82.

Click here to receive FREE breaking news email alerts for Target Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Consumers spent less in July than in the previous month, a surprise retreat that complicates the prevailing belief that the U.S. economic situation is improving. Along with the unexpected drop in spending, government figures released on Friday showed that incomes rose at a slower pace in July than in the previous month. Meanwhile, data on prices indicated that inflation pressures remain tame. India's economy grew faster-than-expected in the three months to June and at the strongest pace in two years, preliminary figures from the Central Statistics Office revealed Friday. Gross domestic product grew 5.7 percent in the April to June quarter, which exceeded economists' forecast for 5.5 percent expansion. The economy grew 4.6 percent in the previous three months. Eurozone inflation slowed as expected in August on falling energy prices giving room for the central bank to support demand and economic recovery without stoking inflation and help the region to create more jobs. The unemployment rate remained unchanged at an elevated level in July. Nonetheless, it was at the lowest since September 2012.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.