Target earnings slip in Q1

Target reported Q1 earnings of $950 million, or $2.05 per share, down from $1.01 billion ($2.16), a year earlier. Even with the decline, the retailer managed better than Wall Street estimates of $1.76 per share. Revenues overall edged up by less than one percent to $25.32 billion, beating an expected $25.29 billion. Comp sales for the quarter remained flat.