MW Target's stock bounces back after earnings beat, upbeat profit outlook
Shares of Target Corp. climbed 2.3% in premarket trading Tuesday, to bounce off the previous session's 16-month closing low, after the discount retailer topped fiscal fourth-quarter earnings expectations, while also providing an upbeat full-year profit outlook.
Earnings per share for the quarter to Feb. 1 fell to $2.41 from $2.98, but were above the FactSet consensus of $2.26. Net sales declined 3.1% to $30.92 billion but topped expectations of $30.78 billion.
Comparable sales, or sales of stores open at least 13 months, rose 1.5% to match the FactSet consensus.
Looking ahead, the company expects full-year adjusted EPS in the range of $8.80 to $9.80, which surrounds the current FactSet consensus of $9.29, and sees net sales increasing around 1%. The current FactSet sales consensus of $109.08 billion implies 2.4% growth.
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-Tomi Kilgore
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March 04, 2025 06:40 ET (11:40 GMT)
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