January 9, 2018 / 12:25 PM / 9 months ago

BRIEF-Target Expects Q4 Comparable Sales Growth In A Range Around 3.4 Pct

Jan 9 (Reuters) - Target Corp:

* - NOW EXPECTS Q4 COMPARABLE SALES GROWTH IN A RANGE AROUND 3.4 PERCENT

* - CURRENTLY PLANNING FOR A LOW SINGLE-DIGIT INCREASE IN ITS 2018 COMPARABLE SALES

* - ‍NOW EXPECTS 2017 WILL BE FOURTH CONSECUTIVE YEAR IN WHICH ITS DIGITAL SALES GROW MORE THAN 25 PERCENT​

* - RAISED ITS Q4 AND FULL-YEAR 2017 EPS GUIDANCE, BASED ON BENEFIT OF STRONGER-THAN-EXPECTED SALES AND RECENTLY-ENACTED FEDERAL TAX REFORM

* - COMPARABLE SALES GROWTH OF 3.4 PERCENT IN NOVEMBER/DECEMBER PERIOD

* - STORES FULFILLED 70 PERCENT OF TARGET’S DIGITAL VOLUME IN NOVEMBER/DECEMBER

* TARGET RAISES Q4 GUIDANCE ON STRONGER-THAN-EXPECTED HOLIDAY SALES

* - ‍IS CURRENTLY PLANNING FOR A LOW SINGLE-DIGIT INCREASE IN ITS 2018 COMPARABLE SALES AND YEAR-OVER-YEAR STABILITY IN EPS​

* - FOR Q4 2017, CO EXPECTS ADJUSTED EPS OF $1.30 TO $1.40

* - ‍ EXPECTS 2018 GAAP EPS FROM CONTINUING OPERATIONS AND ADJUSTED EPS OF $5.15 TO $5.45​

* - TOTAL SALES ARE EXPECTED TO GROW MORE THAN 9 PERCENT IN Q4​

* - ALSO REMAIN FOCUSED ON RAPIDLY SCALING UP NEW FULFILLMENT OPTIONS INCLUDING SAME DAY DELIVERY

* - COMBINED WITH IMPACT OF A 53RD WEEK IN 2017, TARGET’S TOTAL SALES ARE EXPECTED TO GROW MORE THAN 9 PERCENT IN Q4

* TARGET - ‍ Q4 ADJUSTED EPS EXPECTATION REFLECTS A 6 TO 8 CENT BENEFIT FROM A LOWER STRUCTURAL TAX RATE IN JANUARY FROM FEDERAL TAX REFORM LEGISLATION​

* Q4 EARNINGS PER SHARE VIEW $1.22 — THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage:

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