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.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.