Target (NYSE:TGT) announced that it earned $637 million, or 96 cents per share, up 15 percent from $555 million, or 82 cents per share, in the same period last year. Excluding certain items, earnings were 90 cents per share, beating estimates of 78 cents per share. Revenue was higher by about three percent to $16.6 billion, below forecasts of $16.91 billion. Same store sales increased by 2.9 percent, below the 4.3 percent increase reported last year.
Shares are higher by about one percent.
Walmart (NYSE:WMT) announced that it earned $3.63 billion, or $1.08 per share, versus $3.33 billion or 96 cents per share in the same period last year. Revenue increased to $113.93 billion from $110.23 in the same period last year. Excluding exchange rate fluctuations, sales would have been $114.9 billion. Same store sales increased by 1.5 percent. Analysts had expected earnings of $1.07 per share, $114.96 billion in revenue, and a 4.6 percent increase in same store sales.
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