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Target projects stronger profits as turnaround gains momentum [Los Angeles Times (CA)]
Last walmart inc. earnings: 2/18 06:00 am
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US:NYSE Investor Relations: stock.walmart.com/investors/default.aspx
Adjusted earnings per share are projected in a range of $7.50 to $8.50 in the current fiscal year, the company said in a statement on Tuesday. The midpoint is above the average of estimates compiled by Bloomberg. “Target saw a healthy, positive sales increase in February, serving as an important milestone on our path back to growth this year, and reinforcing my confidence in the momentum we're building and the future we're creating together,” Chief Executive Officer Michael Fiddelke said. The strong profit guidance shows how Target is making progress at improving its performance. It's aiming to end a three-year sales slump by investing to improve merchandise, refresh its stores and integrate new technology into its operations. At the same time, it needs to fend off competitors as shoppers become increasingly price-sensitive. Target said it expects a “small increase” in comparable sales for the year, without providing a figure. Net sales are expected to grow about 2%. Credited
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