(Reuters) – Target Corp (N:) beat Wall Street estimates for quarterly same-store sales on Wednesday, as the big box retailer benefited from higher online sales and an increase in shoppers at its stores, sending shares up 5% in pre-market trading.
The company also raised its full-year adjusted profit forecast between $5.90 and $6.20 per share, compared with the prior range of $5.75 to $6.05.
Sales at establish Target stores rose 3.4% in the second quarter, edging past analysts’ estimates of 3% rise, according to IBES data from Refinitiv.
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