(Updated - May 19, 2021 6:32 AM EDT)

Target (NYSE: TGT) reported Q1 EPS of $3.69, $1.54 better than the analyst estimate of $2.15. Revenue for the quarter came in at $24.2 billion versus the consensus estimate of $21.48 billion.

• First quarter comparable sales grew 22.9 percent, on top of 10.8 percent growth last year.

Fiscal 2021 Guidance:

For the second quarter of 2021, the Company expects mid-to-high single digit growth in comparable sales. The Company expects its second-quarter operating margin rate will be well above the second quarter 2019 rate of 7.2 percent, but likely not as high as last year's unprecedented 10.0 percent.

The Company expects positive single-digit comparable sales growth in the last two quarters of the year, and expects its full-year operating margin rate will be well above the 2020 rate of 7.0 percent, with the potential to reach 8 percent or somewhat higher.

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