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Target surges 17%, set for record high after smashing forecasts and raising profit outlook

Posted On: Aug 21, 2019   |   Posted By: Business Insider

Target surges 17%, set for record high after smashing forecasts and raising profit outlook

Target's stock is on pace to open at a record high on Wednesday after the retailer posted second-quarter earnings that beat Wall Street estimates.
Sales at existing Target stores climbed 3.4% in the second quarter, boosted by an expansion of the company's same-day fulfillment offerings.
The company now expects full-year earnings per share to fall between $5.90 and $6.20, up from a range of $5.75 to $6.05.
Shares of Target surged 15% on the strong results.
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Target's stock is set to open at a record high after the retailer reported second-quarter earnings that outperformed Wall Street forecasts. Shares of Target surged more than 17% on the earnings beat.
Here are the key numbers from Target's second-quarter earnings:
Revenue: $18.42 billion versus $18.25 billion expected by analysts
Earnings per share: $1.82 compared to $1.62 estimated by analysts
Profit: $1.32 billion, up 17% from the same period last year
Same-store sales: Up 3.4% from last year
Target...

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