Target beats estimates in Q4

Target reported Q4 sales of $31.4 billion, beating Wall Street estimates of $30.46 billion. Adjusted earnings of $1.89 per share were likewise ahead of a projected $1.48. Same-store sales edged up by 0.7 percent, instead of slipping by 1.74 percent as anticipated. For the full fiscal year, revenues rose by $3 billion to $109 billion. Operating income for the year came to $3.8 billion, down 57 percent from $8.9 billion in 2021.