May 17 Target Corp reported a
smaller-than-expected drop in quarterly comparable sales on
Wednesday, as sales picked up in March after a slow start to the
Shares of the company rose 6 percent to $57.90 in premarket
Sales at stores open at least a year fell 1.3 percent,
better than the 3.6 percent drop expected by analysts polled by
research firm Consensus Metrix.
Net income rose to $681 million, or $1.23 per share, in the
first quarter ended April 29, from $632 million, or $1.05 per
share, a year earlier.
Target had recorded a $261 million charge related to the
early retirement of debt in the year-earlier period.
Revenue fell 1.1 percent to $16.02 billion.
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by