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Target (TGT) 1Q17 Results: Beats on Revenue and EPS, Guides in Line

Executive Summary

  • Target reported 1Q17 adjusted EPS of $1.21, down 6.1% from $1.29 in the year-ago quarter, but handily beating the $0.91 consensus estimate. Total revenues were $16.0 billion, down 1.1% year over year, but above the $15.65 billion consensus estimate.
  • Comp sales decreased by 1.3%, while e-commerce sales grew by 22% and accounted for 4.3% of sales.
  • For 2Q17, Target expects a low-single-digit decline in comps, and GAAP and adjusted EPS of $0.95–$1.15, in line with the $1.00 consensus estimate.

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