Target's stock jumps 8% premarket after retailer's results top expectations
Shares of Target Corp. TGT, -0.17% shot up 7.7% in premarket trade Wednesday, after the discount retail giant reported a fiscal first-quarter profit, revenue and same-store sales that rose above expectations. Net earnings for the quarter to May 4 rose to $795 million, or $1.53 a share, from $718 million, or $1.33 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share rose 15.9% to $1.53, above the FactSet consensus of $1.43. Total revenue grew 5.0% to $17.
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