logo
Share SHARE
FONT-SIZE Plus   Neg

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

Target Corporation (TGT) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
GoPro has just launched a facile camera, its smallest and lightest yet, as the action-camera sports maker seeks to further entice its adventure-seeking consumers. Oreo, the popular two chocolate wafers with a sweet crème filling in between has now got a new look. With about half the width of the regular Oreo, the new Oreo Thins will be thinner and slightly reduced in calorie. It will be available from July 13 with no change in its cookie taste and price tag. The Justice Department has initiated a probe to find out if airlines are colluding to limit seating capacity in order to benefit from higher airfares.
comments powered by Disqus
RELATED NEWS
Trade TGT now with 
Follow RTT