Target reported another quarter of declining sales and profits as it struggles to regain its footing with customers who are facing higher prices almost everywhere.
But the Minneapolis company on Tuesday offered a solid annual profit outlook that was better than Wall Street had been projecting. It also said it believes net sales will grow every quarter this year.
Target also said comparable-store sales rose to start the current quarter.
Shares rose about 1.5% before the opening bell.
The company earned $2.30 per share, or $1.05 billion, for the three-month period ended Jan. 31. That compares with $2.41 per share, or $1.10 billion, during the year-ago period. Adjusted earnings per share for the most recent quarter was $2.44.
