Target Builds on Brisk Holiday With a Rosier Full-Year Outlook

Mar 05 2019, 11:38 AMMar 05 2019, 12:09 PMMarch 05 2019, 11:38 AMMarch 05 2019, 12:09 PM

(Bloomberg) -- Target Corp. followed up its strong holiday sales with upbeat projections for the current year, distancing itself from the struggles of mall-based department stores. The shares gained in early trading.

Excluding some items, earnings per share this fiscal year will be $5.75 to $6.05, above analysts’ average estimate. Comparable sales for the full year will increase by a low- to mid-single-digit percentage.

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Market Reaction

Target climbed as much as 3.2 percent in premarket trading after the release of the results. The stock had gained about 10 percent this year through Monday’s close, just shy of the 11 percent advance in the S&P 500 Index.

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