Target (TGT) reported fiscal Q4 adjusted earnings Tuesday of $2.98 per diluted share, up from $1.89 a year earlier.
Analysts polled by Capital IQ expected $2.41
Sales for the quarter ended Feb. 3, were $31.47 billion, up from $30.98 billion a year earlier.
Analysts surveyed by Capital IQ expected $31.85 billion.
The retailer’s comparable sales fell 4.4% for fiscal Q4, compared with growth of 0.7% a year earlier. Analysts polled by Capital IQ expected a decline of 4.5%.
For fiscal Q1, the company said it expects adjusted EPS of $1.70 to $2.10. Analysts surveyed by Capital IQ expect $2.10. Comparable sales for the fiscal quarter are expected to decline by 3% to 5%. Analysts polled by Capital IQ expect a fall of 3.5%.
For fiscal 2024, Target said it expects adjusted EPS of $8.60 to $9.60. Analysts polled by Capital IQ expect $9.15. Comparable sales for the fiscal year are expected to range from flat to 2% higher. Analysts surveyed by Capital IQ expect growth of 0.57%.
Shares of the company were up more than 7% in recent Tuesday premarket activity.