Target rattles Wall Street with weak quarter, outlook

Target Corp. on Tuesday reported fiscal fourth-quarter net income of $817 million.

The Minneapolis-based company said it had profit of $1.45 per share.

The results fell short of Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.

The retailer posted revenue of $20.69 billion in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $20.75 billion.

Target expects full-year earnings to be $3.80 to $4 per share.

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