Target Maintains FY23 Outlook - Update

(RTTNews) - While reporting financial results for the first quarter on Wednesday, discount retailer Target Corp. (TGT) maintained its earnings, adjusted earnings and comparable sales guidance for the full-year 2023. The company also provided outlook for the second quarter.

For fiscal 2023, the company continues to project earnings and adjusted earnings in the range of $7.75 to $8.75 per share on comparable sales in a wide range from a low-single digit decline to a low-single digit increase.

On average, 34 analysts polled by Thomson Reuters expect the company to report earnings of $8.44 per share for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company project earnings and adjusted earnings in the range of $1.30 to $1.70 per share on comparable sales centered around a low-single digit decline. The Street is looking for earnings of $1.93 per share for the quarter.

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