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Target lowers first quarter outlook

Minneapolis - Citing softer-than-expected sales, Target reduced its guidance for the first quarter, saying it now expects same-store sales to be flat. Previously, it forecast comps to be flat to up 2%.
Target's new earnings guidance for the quarter falls just below the low end of its previous expectation. The updated range for earnings per share is $1.10 to $1.20. The company did not lower its earnings forecast for the full fiscal year, which is EPS of $4.85 to $5.05.
The company is scheduled to release its full results for the quarter May 22.


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