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Target Posts Weaker Sales In 1Q 2016

May 18, 2016: 12:00 AM EST
Target Corporation reported sales decreased 5.4 percent to $16.2 billion in the first quarter of 2016, compared with $17.1 billion in the same quarter in 2015. Comparable sales grew 1.2 percent, with adjusted earnings per share from continuing operations at $1.29, an increase of 16.5 percent from $1.10 in 2015. Segment earnings before interest expense and income taxes were $1.323 billion, up 4.9 percent from $1.261 billion in 2015. EBITDA and EBIT margin rates for the quarter were 11.5 percent and 8.2 percent, respectively, compared with 10.5 percent and 7.4 percent in 2015.
"Target Reports First Quarter 2016 Earnings", Target, May 18, 2016, © Target Brands, Inc.
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