August 21, 2019 / 10:39 AM / a month ago

Target quarterly same-store sales beat, raises full-year profit forecast

Aug 21 (Reuters) - Target Corp beat Wall Street estimates for quarterly same-store sales on Wednesday, as the big box retailer benefited from higher online sales and an increase in shoppers at its stores, sending shares up 5% in pre-market trading.

The company also raised its full-year adjusted profit forecast between $5.90 and $6.20 per share, compared with the prior range of $5.75 to $6.05.

Sales at establish Target stores rose 3.4% in the second quarter, edging past analysts’ estimates of 3% rise, according to IBES data from Refinitiv. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Shounak Dasgupta)

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