Target says to meet 2Q EPS expectations, reports June sales fall 6.2 pct
Target Corp. said on Thursday that its earnings per share in the second quarter would meet or exceed FirstCall estimates of 64 cents, while also reporting that June same-store sales fell 6.2 percent.
“Sales for the month of June continued to reflect a very challenging economic environment,” Target chief executive, chairman and president Gregg Steinhafel said in a released statement.
Total sales were down 2.6 percent to $5,690 billion, compared with $5.842 billion a year ago in the same period.
For the quarter, comparable store sales are down 6.1 percent and sales so far this year by that measure are down 4.7 percent.
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