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Target's fiscal Q4 comparable sales rise 3.6% YOY, but adjusted EPS falls

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Target's fiscal Q4 comparable sales rise 3.6% YOY, but adjusted EPS falls

Target Corp. on March 6 reported a mixed bag of results for the fiscal fourth quarter, with a year-over-year rise in sales but a decline in adjusted EPS.

Adjusted EPS for the quarter ended Feb. 3 totaled $1.37, a 5.8% decline year over year. The S&P Capital IQ mean consensus estimate for normalized EPS was $1.38.

Fourth-quarter sales increased 10% year over year to $22.77 billion. Target noted that the fiscal fourth quarter of 2017 included an additional week compared with fiscal 2016.

Sales rose 3.6% year over year on a comparable basis. Comparable digital sales grew 29%.

Segment earnings before interest expense and income tax totaled $1.15 billion, a 14.3% decline year over year.

For the full fiscal year, adjusted EPS totaled $4.71, a 5.9% decline from fiscal 2016. The S&P Capital IQ mean consensus estimate for normalized EPS was $4.72.

Sales totaled $71.88 billion for the year, up 3.4% from fiscal 2016.

Target said it expects adjusted EPS to range between $1.25 and $1.45 for the fiscal first quarter, while fiscal 2018 adjusted EPS will range between $5.15 and $5.45.