Target Corp. (TGT) announced Tuesday that it now expects its first quarter 2013 adjusted earnings per share will be slightly below the low end of the prior guidance of $1.10 to $1.20. Analysts polled by Thomson Reuters expect the company to report earnings of $0.98 per share for the first-quarter. Analysts' estimates typically exclude special items.
The company also expects first quarter GAAP earnings per share to be approximately $0.28 lower than adjusted earnings per share, due to losses, recognized in interest expense, related to the early retirement of debt of approximately $445 million, or (41) cents per share; expected earnings per share dilution related to the Canadian Segment of approximately (23) cents, and; Net accounting gains of approximately 36 cents associated with the sale of Target's entire consumer credit card receivables portfolio to TD Bank Group.
The company now expects its first quarter 2013 comparable-store sales growth will be approximately flat, due to softer-than-expected sales trends particularly in seasonal and weather-sensitive categories across the store.
For fiscal 2013, the company continues to expect adjusted earnings to be in a range of $4.85 to $5.05 per share. Analysts expect the company to report earnings of $4.59 per share for fiscal 2013. The company anticipates full-year 2013 GAAP earnings per share to be approximately $0.57 lower than adjusted earnings per share.
For comments and feedback contact: editorial@rttnews.com
Business News
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.