TARGET MEETS EARNINGS AND REVENUE EXPECTATIONS

by Brian Lipton Nov 19, 2015

target_AP748207260000Target Corp. met expectations for the third-quarter with earnings of 86 cents per share, a significant increase from 2014, and a slightly lower revenue of $17.61 billion.

Target reported a 56 percent increase in profit to $549 million. In addition, same-store sales rose 1.9 percent in the quarter, slightly above estimates of an increase of 1.8 percent.

The Michigan-based retailer also raised its full-year earnings forecast and now expects earnings of $4.65 to $4.75 per share for the year. While digital sales were below expectation for the third quarter, the retailer hopes that free shipping during the holiday period will help boost fourth quarter sales.