Target: EPS down 1% in Q1

(CercleFinance.com) - Target's Q1 EPS fell 1% to $2.
03, while its operating margin improved by 0.1 point to 5.3%, reflecting a 1.4-point rise in its gross margin to 27.7%.

Sales fell by 3.1% to $24.5bn, with a 3.7% decline in comparable sales, as a 4.8% drop in in-store sales was only partly offset by a 1.4% increase in digital sales.

Target nevertheless points to a continued improvement in trends for its discretionary sales, as well as the success of the relaunch of its Target Circle loyalty program in April, with over one million new members.

For the full year to date, the low-cost retail group continues to expect LFL sales growth of 0-2%, as well as EPS of between $8.60 and $9.60.


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