Target Corp.’s ongoing recovery stalled a bit in the first quarter as the chain joined the list of retailers posting disappointing Q1 sales amid cool, unspring like weather and sluggish retail spending.
But it was not all gloom and doom for the discounter, whose online sales continued their upward course and whose profit topped estimates.
Target on Wednesday reported fiscal first-quarter earnings of $632 million, helped by cost cuts. Earnings, adjusted for one-time gains and costs, were $1.29 per share, which beat Wall Street expectations of $1.19.
