Target Corporation (NYSE: TGT) reported third quarter 2022 earnings results today.
Total revenue was $26.5 billion, up 3.4% compared to the same period last year. Comparable sales rose 2.7%.
Net earnings dropped 52.1% to $712 million while EPS fell 49.3% to $1.54. Adjusted EPS declined 49.1% to $1.54.
Revenue beat estimates but earnings fell short of expectations, sending the stock plummeting 14% in premarket hours.
Target anticipates a low single digit decline in comparable sales for the fourth quarter of 2022.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
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