Ready to Sell Target? Look at This Number First

(NYSE: TGT) shares have been in the doldrums over the past year -- and so have the company's earnings. High inflation and worries about a possible recession are weighing on consumer sentiment. As a result, shoppers are spending less on discretionary purchases, which are a big part of Target's revenue picture.

But before you hit the "sell" button on your Target shares -- or decide to avoid adding the stock to your portfolio -- take a look at one particular number in the fiscal first-quarter earnings report that the retail giant delivered this week. This number may change your mind about the stock.

Before we get to what that number is, though, let's quickly summarize Target's results for its fiscal Q1, which ended April 29. The company's sales met its own expectations, while adjusted earnings per share and operating margin beat its forecasts. Traffic increased, indicating more people are shopping at Target.

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Source Fool.com