Target Projects Flat Sales, Lower Earnings for First Quarter
April 16, 2013,
MINNEAPOLIS-Target said it expects its first-quarter same-store sales to be about the same as in the first quarter of last year, and that its earnings per share will be at the low end of its prior guidance.
The retailer sales trends in the quarter have been softer than expected, especially in seasonal and "weather-sensitive" categories throughout the store. This will be a prime factor in pushing earnings per share down to about $1.10, the low end of its prediction of between $1.10 and $1.20.