MINNEAPOLIS (AP) — MINNEAPOLIS (AP) — Target Corp. (TGT) on Wednesday reported fiscal first-quarter earnings of $1.04 billion.
The Minneapolis-based company said it had net income of $2.27 per share. Earnings, adjusted for non-recurring gains, were $1.30 per share.
The results fell short of Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.62 per share.
The retailer posted revenue of $23.85 billion in the period, which also did not meet Street forecasts. Ten analysts surveyed by Zacks expected $24.23 billion.
Target expects full-year earnings in the range of $7 to $9 per share.
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