Target (TGT) Tops Q1 EPS by 10c; Guides Q2 EPS Below Views

Target (NYSE: TGT) reported Q1 EPS of $1.29, $0.10 better than the analyst estimate of $1.19. Revenue for the quarter came in at $16.2 billion versus the consensus estimate of $16.32 billion.

First quarter comparable sales increased 1.2 percent.

“We are pleased with our first quarter financial results, which demonstrate the effectiveness of our strategy in an increasingly volatile consumer environment,” said Brian Cornell, chairman and CEO of Target. “First quarter comparable sales in Signature Categories grew more than three times the Company average, digital comparable sales grew 23 percent, and strong execution by our team delivered stronger-than-expected growth in Adjusted EPS. With an outstanding team, a resilient business model and a strong balance sheet, we plan to successfully implement our long-term strategy, even in the face of a challenging short-term consumer landscape.”

GUIDANCE:

Target sees Q2 2016 EPS of $1.00 - $1.20, versus the consensus of $1.36.

For earnings history and earnings-related data on Target (TGT) click here.

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