Shares of Target Corporation (TGT) dropped 3.2% in Wednesday’s early trading session, even though the company posted stronger-than-expected Q3 results. Target’s stores offer food products and general merchandise across all U.S. states and the District of Columbia. Quarterly revenues stood at $25.7 billion, up 13.3% from the last year’s quarter. Also, it surpassed the consensus estimate of $24.8 billion. While Store comparable sales rose 9.7%, Digital comparable sales went up 29%. Further, over 95% of Target’s Q3 sales were fulfilled by its stores. The company reported adjusted earnings per share (EPS) of $3.03, which compares favorably with $2.79 per share in the same quarter last year.
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Target (NYSE:TGT)
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