Target earnings: $1.82 a share, vs $1.62 EPS expected
The strong momentum in the first half of the fiscal year prompted Target to raise its full-year estimates.Back-to-school shopping at a Target store in West Hollywood, California.'s second-quarter profit jumped 17%, beating Wall Street estimates and prompting the company to raise its outlook for the rest of the year, the company said Wednesday.
"By appealing to shoppers through a compelling assortment, a suite of convenience-driven fulfillment options, competitive prices and an enjoyable shopping experience, we're increasing Target's relevancy and deepening the relationship between our guests and our brand," Cornell said in a statement announcing the earnings results.
Total revenue grew 3.6% to $18.42 billion from $17.78 billion a year ago, topping estimates for $18.34 billion.
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