Target misses 4Q profit forecasts

By  | 
View Map

MINNEAPOLIS (AP) -- Target Corp. (TGT) on Tuesday reported fiscal fourth-quarter earnings of $1.1 billion.

The Minneapolis-based company said it had profit of $2.02 per share. Earnings, adjusted for one-time gains and costs, were $1.37 per share.

The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.39 per share.

The retailer posted revenue of $22.77 billion in the period, which topped Street forecasts. Five analysts surveyed by Zacks expected $22.46 billion.

For the current quarter ending in May, Target expects its per-share earnings to range from $1.25 to $1.45. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.40.

The company expects full-year earnings in the range of $5.15 to $5.45 per share.

Target shares have increased 15 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 2 percent. The stock has increased 31 percent in the last 12 months.



 
The comment sections of our web set are designed for thoughtful, intelligent conversation and debate. We want to hear from the viewers but we are not obligated to post comments we feel inappropriate or violate our guidelines. Here are some of the criteria you should follow when posting comments:

Comments cannot be profane or vulgar. Children and families visit this site. We will delete comments that use profanity or cross the lines of good taste.

We will delete all comments using hate speech. Slurs, stereotypes and violent talk aren’t welcome on our web site.

Comments should not attack other readers personally.

We will delete comments we deem offensive, in bad taste, or out of bounds. We are not obligated to post comments that are rude or insensitive.

We do not edit user-submitted comments.

As a host WEAU 13 News welcomes a wide spectrum of opinions. However, we have a responsibility to all our readers to try to keep our comment section fair and decent. For that reason WEAU 13 News reserves the right to not post or to remove any comment.
powered by Disqus