Target Corp Raises FY 2012 EPS Guidance; Issues Q3 2012 EPS Guidance Above Analysts' Estimates

Target Corp announced that for the third quarter 2012, it expects adjusted EPS of $0.83 to $0.93 and GAAP EPS of $0.69 to $0.79. For fiscal 2012, the Company has raised guidance and now expects adjusted EPS of $4.65 to $4.85 and GAAP EPS of $4.20 to $4.40. The difference between the GAAP and adjusted EPS range of 14 cents in the third quarter reflects the expected EPS impact of expenses related to the company's Canadian market entry. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $0.76 for the third quarter of 2012; EPS of $4.31 for fiscal 2012.