Target Gets Boost From Apparel
Stock quotes in this article:TGT
NEW YORK (TheStreet) -- Target(TGT) reported a 29% surge in first-quarter profit, receiving a boost from sales of discretionary items like apparel and electronics.
During the quarter the discounter earned $671 million, or 90 cents a share, compared with $522 million, or 69 cents, in the year-ago period. Analysts expected a profit of 86 cents a share. Sales grew 5.5% to $15.2 billion, while same-store sales rose 2.8%. "Our retail segment delivered results well above our expectations, as sales of higher margin discretionary items were particularly strong, especially in apparel," Chief Executive Gregg Steinhafel said in a statement. Shares of Target were gaining 2.2% to $55.40 in pre-market trading Wednesday Reported by Jeanine Poggi in New York. Follow Jeanine Poggi on Twitter and become a fan of TheStreet on Facebook.>To order reprints of this article, click here: ReprintsTheStreet Premium Services For Personal Service: 877-471-2967
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
ETF Profits:
Get money-making ideas from the hottest investment vehicle on the planet. Our experts show you how to play various ETF sectors to help pump-up your portfolio. Learn More
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 12,890.46 | 1,351.95 | 2,927.23 | 20.47 |
Oil *
118.75
|
|
UP
6.51 |
UP
1.99 |
UP
11.37 |
UP
0.72 |
10 Yr
2.05%
SPDR Gold
168.02
|
|
+0.05%
|
+0.15%
|
+0.39%
|
+3.65%
|
Data delayed 20 minutes |
Connect with TheStreet