Target Corporation (NYSE: TGT) reported third quarter 2023 earnings results today.
Total revenue was $25.4 billion, down 4.2% from the same period last year. Comparable sales declined 4.9%.
Net earnings increased 36.3% to $971 million, or $2.10 per share, compared to last year. Adjusted EPS was $2.10.
Both revenue and earnings beat expectations, sending the stock soaring over 9% in premarket hours on Wednesday.
For the fourth quarter of 2023, the company expects comparable sales in a wide range around a mid-single digit decline, and GAAP and adjusted EPS of $1.90-2.60.