Target Rattles Wall Street with Weak Quarter
MINNEAPOLIS, Minn. (AP) – Target Corp. on Tuesday reported a fiscal fourth-quarter net income of $817 million.
The Minneapolis-based company said it had profit of $1.45 per share.
The results fell short of Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.
The retailer posted revenue of $20.69 billion in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $20.75 billion.
Target expects full-year earnings to be $3.80 to $4 per share.