(Reuters) - Target Corp on Wednesday reported a larger-than-expected increase in first-quarter profit on healthy revenue growth and raised the low end of its full-year earnings forecast range.
Adjusted earnings per share, excluding restructuring costs and other items, came to $1.10 in the three months ended May 2, against a profit of 92 cents in the same period a year earlier.
Analysts, on average, expected per-share profit of $1.03, according to Thomson Reuters I/B/E/S.
For the full year, the company expects adjusted earnings of $4.50 to $4.65 per share, against its previous outlook of $4.45 to $4.65.
TARGET (TGT.NY)said comparable sales at stores open at least a year rose 2.3 percent, matching the market consensus, according to Consensus Metrix.
(Reporting by Nathan Layne; Editing by Jeffrey Benkoe)
