Target Cuts Sales Forecast Amidst Weak Q1 Results
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Target (TGT) shares dropped in premarket trading after the company issued a lowered full-year sales projection following mixed first-quarter results. While adjusted EPS of $1.30 beat analyst expectations, revenue fell short at $23.85 billion, and comparable sales declined 3.8%. Target now anticipates a low-single-digit sales decrease and adjusted EPS of $7.00 to $9.00 for fiscal 2025, down from prior guidance. The company also announced a new "Enterprise Acceleration Office" to improve operational efficiency. Shares are down approximately 28% year-to-date.
Target (TGT) shares dropped in premarket trading after the company issued a lowered full-year sales projection following mixed first-quarter results. While adjusted EPS of $1.30 beat analyst expectations, revenue fell short at $23.85 billion, and comparable sales declined 3.8%. Target now anticipates a low-single-digit sales decrease and adjusted EPS of $7.00 to $9.00 for fiscal 2025, down from prior guidance. The company also announced a new "Enterprise Acceleration Office" to improve operational efficiency. Shares are down approximately 28% year-to-date.
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