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Target (NYSE: TGT): 1Q19 Results Beat Consensus Estimates, 4.8% Comps and 42% E-Commerce Growth, Reiterates 2019 Guidance

Executive Summary

  • Target reported 1Q19 total revenues of $17.63 billion, up 5.0% and beating the $17.46 billion consensus estimate. Adjusted EPS was $1.53, beating consensus by a dime.
  • Comps grew 4.8%, beating consensus of 4.1%. Digital sales growth accelerated to 42%, on top of 28% in the year-ago quarter.
  • Target reiterated its 2019 guidance of a low-to-mid single digit increase in comps, a mid-single-digit increase in operating income and EPS of $5.75-6.05 (up 7-12%).

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