TGT - These Analysts Cut Their Forecasts On Target After Downbeat Earnings | Benzinga
Target Corp (NYSE:TGT) reported weaker-than-expected first-quarter earnings on Wednesday.
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. Adjusted EPS of $2.03 missed the analyst consensus estimate of $2.06, according to data from Benzinga Pro.
Operating income margin rate of 5.3% was 10 basis points higher than last year, and the operating income for the quarter fell 2.4% to $1.3 billion.
“Our first quarter financial performance was in line with our expectations on both the top and bottom line, tracking the trajectory we outlined for this year and setting up a ...