00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Target beat Wall Street earnings and revenue expectations as net sales grew more than 6%
00:07year over year, according to CNBC. Target posted fiscal first quarter earnings of $1.71 per share
00:14on revenue of $25.44 billion, topping Wall Street estimates of $1.46 per share and $24.64 billion.
00:23Same-store sales rose 5.6%, the first positive comparable sales figure in five quarters,
00:30as store and digital traffic climbed 4.4%. Digital comparable sales grew 8.9%,
00:37driven by same-day delivery through Target Circle 360. Non-merchandise sales jumped nearly 25%,
00:44boosted by membership and marketplace revenue. Sales rose across all six core merchandising
00:49categories, with health and wellness, toys, and baby segments leading gains. Target raised its
00:55full-year net sales growth outlook to 4% and said earnings per share should come in near the high
01:00end of its $7.50 to $8.50 guidance range. For all things money, visit Benzinga.com.
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