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.
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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
