Overview
- Target reported third-quarter net sales of $25.3 billion, down 1.4% year over year, with adjusted earnings per share of $1.78 versus $1.85 a year ago.
- Revenue came in slightly below the $25.32 billion consensus, while adjusted EPS topped the $1.72 estimate cited by LSEG.
- Operating income fell 18.9% to $948 million and net earnings declined 19.3% to $689 million.
- The company maintained an outlook for a low single-digit sales decline in the holiday quarter and narrowed full-year adjusted EPS guidance to $7–$8 from $7–$9.
- Digital comparable sales grew 2.4% as shares traded down about 3% premarket to roughly $85.90, leaving the stock near a 52-week low and down about 34% year to date.