Target (NYSE:TGT) announced that it earned $961 million, or $1.47 per share, down from $981 million, or $1.45 per share, in the same period last year. Excluding certain items, earnings were $1.65 per share, beating estimates of $1.47 per share. Revenue increased by seven percent to $22.73 billion from $21.29 billion, beating estimates. The company said that it expects to earn between $1.10 per share to $1.20 per share, beating estimates of $1.05 per share.
Shares are lower by about 2.4 percent.
Last week, rival Walmart (NYSE:WMT) announced that it earned $1.67 per share, beating estimates of $1.67, while revenues were $127.1 billion, below analyst estimates.
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