Market Overview

UPDATE: Target Posts Drop In Q4 Profit

Share:
Related TGT
Retailers Hope Back-To-School Means Big Bucks
Hacking Concerns Give New Life To Cybersecurity Field
Sears Holdings (SHLD) Falls Double Digits on Weak Comps - Analyst Blog (Zacks)

Target (NYSE: TGT) reported a decline in its fiscal fourth quarter profit.

Target's quarterly profit slipped to $520 million, or $0.81 per share, versus $961 million, or $1.47 per share, in the year-ago period.

Its total revenue dropped 5.3% to $21.52 billion. Its adjusted profit came in at $1.30 per share. The company had earlier expected earnings of $1.20 to $1.30 per share. Target's US comparable sales dropped 2.5%.

Target expects Q1 adjusted profit of $0.60 to $0.75 per share and full-year profit of $4.38 per share. However, analysts were expecting a profit of $0.88 per share for the quarter and $4.21 per share for the full year.

Target shares fell 0.02% to $56.50 in pre-market trading.

Posted-In: profitEarnings News Guidance

 

Related Articles (TGT)

Get Benzinga's Newsletters