Target (TGT) Tops Q1 EPS by 30c, Beats on Revenues Target (NYSE: TGT) reported Q1 EPS of $1.21, $0.30 better than the analyst estimate of $0.91. Revenue for the quarter came in at $16 billion versus the consensus estimate of $15.62 billion. GAAP EPS from continuing operations of $1.22 and Adjusted EPS1 of $1.21 were above the Company’s guidance of $0.80 to $1.00 Fiscal 2017 Earnings Guidance In second quarter 2017, Target expects a low single digit decline in comparable sales, and both GAAP EPS from continuing operations and Adjusted EPS of $0.95 to $1.15. For full-year 2017, the Company continues to expect a low single digit decline in comparable sales. Target did not update its full year guidance for GAAP EPS from continuing operations and Adjusted EPS, but acknowledged that better-than-expected first quarter performance increases the probability that the Company will finish the year above the midpoint of its prior guidance. First quarter GAAP EPS from continuing operations of $1.22 was 20.0 percent higher than first quarter 2016. First quarter 2016 performance included $0.26 of debt-retirement costs. Adjusted EPS was $1.21, 6.1 percent below first quarter 2016. First quarter comparable sales decreased 1.3 percent, driven by small declines in both traffic and basket size. Comparable digital channel sales increased 22 percent, on top of 23 percent growth in first quarter 2016. Target returned $637 million to shareholders in the first quarter through dividends and share repurchases. For earnings history and earnings-related data on Target (TGT) click here. Wed, 17 May 2017 06:31:32 -0400 Copyright (c) 2017 StreetInsider.com Rank : positive Related tickers: TARGET CORP (TGT) All News: All News
Submitted May 17, 2017 at 06:35AM by Put_It_All_On_Blck http://ift.tt/2pW0Z5m
