Target Non-GAAP EPS of $2.19 misses by $0.87, revenue of $25.17B beats by $690M

May 18, 2022 6:33 AM ETTarget Corporation (TGT)By: Niloofer Shaikh, SA News Editor42 Comments
  • Target press release (NYSE:TGT): Q1 Non-GAAP EPS of $2.19 misses by $0.87.
  • Revenue of $25.17B (+4.0% Y/Y) beats by $690M.
  • Comparable sales grew 3.3%, reflecting traffic growth of 3.9 percent.
  • Store comparable sales increased 3.4%; Digital comparable sales grew 3.2.
  • For 2Q22, the company expects its operating income margin rate will be in a wide range centered around first quarter's operating margin rate of 5.3%.
  • For FY2022, the company continues to expect low- to mid- single digit revenue growth and operating income margin rate will be in a range centered around 6%.

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