Target Corporation (NYSE: TGT) reported second quarter 2023 earnings results today.
Total revenue was $24.8 billion, down 4.9% from the same period a year ago. Comparable sales declined 5.4%.
Net earnings were $835 million, or $1.80 per share, compared to $183 million, or $0.39 per share, last year. Adjusted EPS was $1.80.
Earnings beat expectations while revenue fell short.
For the third quarter of 2023, Target expects comparable sales in a wide range around a mid-single digit decline, and GAAP and adjusted EPS of $1.20-1.60.
For the full year of 2023, the company expects comparable sales in a wide range around a mid-single digit decline. The retailer now expects full-year GAAP and adjusted EPS to range between $7.00-8.00, versus its prior outlook of $7.75-8.75.
The stock jumped 8% during premarket hours on Wednesday.
Prior performance
