Target reported quarterly earnings and revenue that fell short of analysts' expectations on Wednesday.
The company also said it expects fiscal 2016 earnings per share to come in between $5.20 and $5.40, above the expected $4.72 a share.
Shares of the retailer moved higher in premarket trading immediately following the announcement. (Get the latest quote here.)
The retailer posted fourth-quarter earnings per share of $1.52, compared to $1.50 a share in the year-earlier period.
Revenue for the quarter came in at $21.63 billion, against the comparable year-ago figure of $21.75 billion.
Analysts expected Target to post earnings per share of $1.54 on revenue of $21.75 billion, according to a Thomson Reuters consensus estimate.
Shares of the retail giant are slightly higher for the year, but are lagging retail behemoth Wal-Mart Stores. However, Target's stock is down less than 4 percent in the last 12 months, while Wal-Mart's is down over 20 percent in that time period.
TGT (blue) versus WMT (green) in the last yearSource: FactSet