3 Key Takeaways From Target's First-Quarter Earnings

Target's (NYSE: TGT) first-quarter results, reported on Wednesday, included some promising figures. The retail giant put up an 11.3% increase in sales at a time when many are feeling the strain of an economic shutdown.

Let's be clear. Overall earnings went down. Earnings from continuing operations declined to $0.56 per share on a GAAP basis. That's a 63.3% decline year over year. You'd be hard-pressed to find many businesses that didn't incur sudden costs and shifts that didn't eat into the bottom line in the first quarter. This will likely be even more pronounced in the second quarter since that period has seen the brunt of the pandemic.

Here are three other takeaways that emerged from Target's first-quarter earnings report.

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Source Fool.com