August 22, 2018 / 10:52 AM / a month ago

Target same-store sales top forecasts, shares rise

Aug 22 (Reuters) - Target Corp reported a better-than-expected 4.9 percent rise in comparable sales in the second quarter, as more customers visited its stores and made purchases online, sending its shares up 4 percent in trading before the bell.

Analysts on average had expected sales at stores open at least a year to increase by 3.99 percent, according to Thomson Reuters I/B/E/S.

Excluding items, Target earned a profit of $1.47 per share in the quarter ended Aug. 4, higher than the average estimate of $1.40 per share.

Revenue rose to $17.8 billion, topping an average estimate of $17.31 billion. (Reporting by Nandita Bose in New York; editing by Patrick Graham)

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