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Target Boosts FY19 Adj. EPS Outlook - Quick Facts

While reporting financial results for the second quarter on Wednesday, retailer Target Corp. (TGT) initiated adjusted earnings and comparable sales guidance for the third quarter as well as raised adjusted earnings guidance for the full-year 2019.

For the third quarter, Target expects comparable sales growth of 3.4 percent, with both earnings from continuing operations and adjusted earnings to be in a range of $1.04 to $1.24 per share.

Looking ahead to fiscal 2019, the retailer raised its guidance for both earnings from continuing operations and adjusted earnings to a range of $5.90 to $6.20 per share from the prior outlook range of $5.75 to $6.05 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.62 per share for the third quarter and $5.93 per share for the year. Analysts' estimates typically exclude special items.

Additionally, the company reported second-quarter comparable sales growth of 3.4 percent on traffic growth of 2.4 percent. Comparable store sales grew 1.5 percent, and comparable digital sales grew 1.8 percent.

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