shares dropped 8% premarket Wednesday on the back of its latest quarterly earnings which saw it miss profit expectations.
In comparison to the same quarter last year, Target's revenue saw a decrease of 3.1%, with comparable sales declining by 3.7%. The company's digital comparable sales grew by 1.4%, with same-day services expanding nearly 9%, driven by a growth of over 13% in Drive Up.
Looking ahead, Target anticipates a 0 to 2 percent increase in comparable sales for the second quarter, with adjusted EPS projected to be between $1.95 and $2.35.
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