Target shares surge premarket as digital-sales strength helps lift earnings
Shares of Target Corp. TGT, -0.37% jumped 5.7% toward a 3 1/2-month high in premarket trade Tuesday, after the discount retailer reported fiscal fourth-quarter earnings and sales that topped expectations, helped by strong traffic growth and digital sales. Net income for the quarter to Feb. 2 fell to $799 million, or $1.52 a share, from $1.09 billion, or $1.99 a share, in the same period a year ago. Excluding non-recurring items, adjusted EPS came to $1.53, above the FactSet consensus of $1.52.
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