Target: 6% decline in Q1 EPS
(CercleFinance.com) - Low-cost retailer Target has reported Q1 2023 adjusted EPS that is down 6.
2% at $2.05, with an operating margin of 5.2% on sales that edged up 0.5% to over $24.9bn.
However, the food retailer's sales were flat LFL, in what it says is an increasingly challenging environment, with a 0.7% rise in shop sales offset by a contraction in digital sales.
While maintaining its annual guidance, Target said it expects a low-single-digit decline in comparable sales given the slowdown in sales trends in Q1, as well as adjusted EPS of $1.30 to $1.70 for the current quarter.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
2% at $2.05, with an operating margin of 5.2% on sales that edged up 0.5% to over $24.9bn.
However, the food retailer's sales were flat LFL, in what it says is an increasingly challenging environment, with a 0.7% rise in shop sales offset by a contraction in digital sales.
While maintaining its annual guidance, Target said it expects a low-single-digit decline in comparable sales given the slowdown in sales trends in Q1, as well as adjusted EPS of $1.30 to $1.70 for the current quarter.
Copyright (c) 2023 CercleFinance.com. All rights reserved.