Target Corporation (NYSE: TGT) reported its first quarter 2024 earnings results today.
Total revenue decreased 3.1% year-over-year to $24.5 billion. Comparable sales declined 3.7%.
Net earnings dipped 1% to $942 million, or $2.03 per share, compared to last year. Adjusted EPS was $2.03.
Earnings missed estimates while revenue matched expectations.
For the second quarter of 2024, the company expects a 0-2% increase in comparable sales, and GAAP and adjusted EPS of $1.95-2.35.
The stock plunged over 8% in premarket hours on Wednesday following the announcement.