Editor’s Note: The unit for Advertising revenue has been rectified.
Target Corporation (NYSE:TGT) shares rose in premarket trading Tuesday after the retailer delivered a stronger-than-expected profit report.
Investors looked past a slight sales dip as Target showed steadier margins. Notably, food and beverage, beauty and toys posted net sales growth during the quarter, while essentials and home showed improved trends compared with the third quarter.
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The company reported fourth-quarter adjusted earnings per share of $2.44, beating the analyst consensus estimate of $2.15. Quarterly sales of $30.453 billion (down 1.5% year over year) missed the Street view of $30.512 billion.
Fourth-quarter comparable sales decreased 2.5%, reflecting a comparable-store sales decline of …