Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

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

RELATED NEWS
Trade TGT now with 
4/5/2012 8:22 AM ET

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

Editors Pick
Russian Foreign Minister Sergei Lavrov warned Wednesday that Moscow would retaliate strongly if its "interests" in Ukraine are attacked. He also criticized the Ukrainian administration for relaunching its so-called anti-terrorist operation in the east of the country a day earlier. Lavrov's remarks came in an interview with Russia Today, which published excerpts of the English-language interview to While selling pressure has remained relatively subdued, stocks continue to see modest weakness in mid-day trading on Wednesday. The losses on the day come on the heels of the upward trend seen over the past several sessions. The major averages have moved roughly sideways in recent trading, lingering in the red. While a majority of Kentucky voters approve of the way Rand Paul is handling his job as Senator, the results of New York Times/Kaiser Family Foundation poll showed that voters from the Bluegrass State have a more mixed view on Paul's potential run for president in 2016.
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.