Target: maintains outlook after 'outstanding' first quarter
(CercleFinance.com) - US discount retailer Target said on Wednesday that it had an "outstanding" first quarter, and reaffirmed its full-year earnings and sales forecasts.
Minneapolis-based Target said comparable sales grew by 4.8% in the past quarter, helped by strong growth in traffic, and market-share gains.
In particular, comparable digital sales growth reached 42%.
Operating income rose to 1,13 billion dollars in the first quarter, up 9% from 1,04 billion in 2018.
For full-year 2019, Target continues to expect a low- to mid-single digit growth in comparable sales, and a mid-single digit increase in operating income, the group said.
Target shares are up 7% in pre-market trading.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Minneapolis-based Target said comparable sales grew by 4.8% in the past quarter, helped by strong growth in traffic, and market-share gains.
In particular, comparable digital sales growth reached 42%.
Operating income rose to 1,13 billion dollars in the first quarter, up 9% from 1,04 billion in 2018.
For full-year 2019, Target continues to expect a low- to mid-single digit growth in comparable sales, and a mid-single digit increase in operating income, the group said.
Target shares are up 7% in pre-market trading.
Copyright (c) 2019 CercleFinance.com. All rights reserved.