Target jumped in early trading Tuesday after the company said last year saw the strongest full-year comparable sales growth since before the financial crisis.
The Minneapolis-based retailer’s report was welcome news for those tracking the broader retail space, which is expected to endure more brick-and-mortar pain and transformation this year.
Here are Target’s fourth-quarter earnings, compared with what analysts surveyed by Bloomberg were expecting:
Revenue: $22.98 billion versus $22.95 billion expected.
Adjusted earnings per share (EPS): $1.53 versus $1.53 expected.
Its comparable sales grew at a rate of 5% last year, and by 5.3% in the fourth-quarter. Total revenue for the fourth-quarter totaled nearly $23 billion, down slightly from the same period a year earlier.