Target Corp. (NYSE: TGT) reported Q1 EPS of $0.77, or $1.05 ex-items, versus the analyst estimate of $0.87. Revenue for the quarter rose 0.5 percent to $16.6 billion versus the consensus estimate of $16.82 billion. Comparable-store sales declined 0.6 percent.

"Target's first quarter earnings were below expectations as a result of softer-than-expected sales, particularly in apparel and other seasonal and weather-sensitive categories," said Gregg Steinhafel, chairman, president, and chief executive officer of Target Corporation. "While we are disappointed in our first quarter performance, we remain confident in our strategy, and we continue to invest in initiatives, including Canada, our digital channels and CityTarget, that will drive Target's long-term growth."

In second quarter 2013, the Company expects adjusted EPS of $1.09 to $1.19 and GAAP EPS of $0.90 to $1.00. The consensus is $1.06.

For full-year 2013, the Company now expects adjusted EPS of $4.70 to $4.90, compared with prior guidance of $4.85 to $5.05. GAAP EPS is expected to be $4.12 to $4.32, approximately 58 cents lower than adjusted EPS. The consensus is $4.50.

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

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