Target Reports Stronger-Than-Expected First-Quarter Sales and Raises Full-Year Outlook

Target posted fiscal first-quarter earnings and revenue that exceeded Wall Street expectations and raised its full-year sales growth outlook to 4 percent. 64 billion analysts had projected. 46 consensus estimate.

6 percent, marking the first positive reading in five quarters. 4 percent year over year. 9 percent, driven by same-day delivery through the Target Circle 360 membership program. Nonmerchandise sales jumped nearly 25 percent, led by membership revenue and the Target+ marketplace.

Sales rose across all six core merchandising categories. Health and wellness, toys, and baby products posted particularly strong results, with health and wellness showing double-digit growth. The company opened seven new stores during the quarter and has more than 100 remodel projects underway. 7 percent analysts had expected.

"Even with this early progress, we know our work is just beginning, and we have confidence we're on the right path because guests are responding in areas where we are leaning in and driving change," CEO Michael Fiddelke said on a call with reporters.

"We see a consumer that continues to be resilient, even though they faced a mix of headwinds and tailwinds in the first quarter," Fiddelke added. 50 guidance range. Executives described the outlook as cautious amid ongoing macroeconomic uncertainty.