Target delivered quarterly earnings and revenue that topped analysts' expectations on Wednesday.
Target shares turned lower in premarket trading following the announcement. (Get the latest quote here.)
The retailer posted first-quarter earnings of $1.10 per share, up from 70 cents a share in the year-earlier period. Revenue rose to $17.12 billion.
Analysts expected Target to post earnings of $1.03 per share on $17.08 billion in revenue, according to a consensus estimate from Thomson Reuters.
Target also boosted its guidance for full-year earnings per share to $4.50 to $4.65, from its prior forecast of $4.45 to $4.65. The retailer expects second-quarter earnings of $1.04 to $1.14 a share.