10:28 ET -- Target is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. Target said Wednesday it had first-quarter earnings that topped Wall Street's expectations despite slowing sales growth in a challenging retail environment. The retailer reported income of $950 million, or $2.05 a share, for the quarter, down from $1.01 billion, or $2.16 a share, a year earlier, but ahead of the $1.77 a share that analysts polled by FactSet were expecting. Sales were up 0.5% to $24.95 billion, missing the $25.26 billion Wall Street was looking for, while comparable sales were flat. Citing softening sales trends in the first quarter, the company said it expects earnings of $1.30 to $1.70 a share for the quarter, well below the $1.95 analysts had penciled in. Dow Jones & Co. owns Factiva. (chris.wack@wsj.com)

(END) Dow Jones Newswires

May 17, 2023 10:44 ET (14:44 GMT)

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