00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Target stock fell on Wednesday after management warned of tougher year-over-year comparisons ahead,
00:08overshadowing first-quarter results that beat Wall Street estimates and a raised full-year sales outlook.
00:15According to Benzinga, the retail giant reported first-quarter adjusted earnings of $1.71 per share,
00:21beating analyst estimates of $1.46.
00:24Sales rose 6.7% year-over-year to $25.44 billion, topping the street consensus of $24.64 billion.
00:34Target raised its fiscal 2026 sales outlook to $108.45 billion to $109.50 billion,
00:42above the analyst consensus of $107.22 billion,
00:47and affirmed adjusted earnings guidance of 7.50 to 8.50 per share.
00:53CEO Michael Fidelka said the company is focused on remaining disciplined and flexible
00:57while continuing to invest in its team, capabilities, and guest experience.
01:03CFO Jim Lee said consumer sentiment has been declining
01:06and warned that sales comparisons will become more challenging through the rest of fiscal 2026.
01:11For all things money, visit Benzinga.com.
Comments