Target Backs Fourth-Quarter Profit View Despite Holiday Sales Miss

Date : 01/15/2020 @ 12:06PM
Source : Dow Jones News
Stock : Target Corp (TGT)
Quote : 96.01  1.27 (1.34%) @ 11:44PM
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Last $ 96.00 ▼ -0.01 (-0.01%)

Target Backs Fourth-Quarter Profit View Despite Holiday Sales Miss

Target (NYSE:TGT)
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3 Months : From Dec 2019 to Mar 2020

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By Colin Kellaher

 

Target Corp. (TGT) on Wednesday affirmed its fourth-quarter earnings guidance despite posting disappointing holiday sales results.

The Minneapolis retailer said it still expects to report an adjusted profit of $1.54 to $1.74 a share for the quarter.

Analysts polled by FactSet, on average, are expecting adjusted earnings of $1.70 a share for the quarter.

Target said its holiday comparable sales rose 1.4%, missing the retailers expectations, amid weak sales of toys and electronics.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

January 15, 2020 06:51 ET (11:51 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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