TGT - Target's Q1 Earnings: Falling Revenues and Comp Sales Weigh On Retailer But Inventories Fall By 80% | Benzinga
Target Corp (NYSE:TGT) shares are trading lower after the company reported a lower-than-expected first-quarter FY24 adjusted EPS.
The company reported a first-quarter FY24 sales decline of 3.1% year-on-year to $24.531 billion, beating the analyst consensus estimate of $24.521 billion.
Comparable sales declined 3.7% in the first quarter, reflecting comparable store sales declines of 4.8% partially offset by a comparable digital sales increase of 1.4%.
Gross margin for the quarter expanded by 140 basis points to 27.7%, reflecting the net impact of merchandising activities, ...