Target Corporation (NYSE: TGT) reported first quarter 2021 earnings results today.
Total revenue increased 23.4% year-over-year to $24.1 billion. Comparable sales rose nearly 23%.
GAAP net income jumped more than 600% to $2 billion, or $4.17 per share, compared to last year. Adjusted EPS gained 525% year-over-year to $3.69.
Both revenues and earnings topped market expectations.
For the second quarter of 2021, Target expects mid to high single digit growth in comparable sales, and for the last two quarters of the year, the company estimates comparable sales to see positive single digit growth.
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