Target Corporation (NYSE:TGT) reported second quarter earnings that beat estimates by 2 cents as the retailer said it earned 98 cents a share, excluding items, on revenue of $17.12 billion. Although U.S. same-store sales rose 1.2 percent, the figures still fell below Wall Street estimates.
For the year, Target CEO Gregg Steinhafel was cautious about the retailer’s U.S. outlook because of ongoing concerns about consumer spending.
On Wednesday, shares of Target Corporation fell 2.62 percent to $66.17 in morning trade.
Lowe's Companies Inc. (NYSE:LOW) reported second quarter earnings of $941 million, or 88 cents per share, compared with earnings of $747 million, or 64 cents per share, a year earlier. Revenue rose 10 percent to $15.71 billion.
The second-largest home improvement retailer also raised its full-year earnings and revenue forecasts.
Shares of Lowe's Companies Inc. jumped 5.78 percent to $46.63.
American Eagle Outfitters (NYSE:AEO) said second quarter net income rose 3 percent to $19.6 million, or 10 cents per share, while revenue fell 2 percent to $727.3 million.
The teen retailer also cut it outlook for its fiscal third quarter below Wall Street expectations, blaming shoppers reluctance to spend.
Shares of American Eagle Outfitters sank 8.39 percent to $15.01.
Toll Brothers Inc (NYSE:TOL) issued fiscal third quarter profit of $46.6 million, or 26 cents a share, compared with earnings of $61.6 million, or 36 cents a share, a year-ago. The largest U.S luxury home builder said revenue increased 24 percent to $689.2 million.
Shares of Toll Brothers Inc rose 2.05 percent to $32.29.
Staples Inc. (NASDAQ:SPLS) booked second quarter earnings of $102.5 million, or 16 cents per share, compared with earnings of $120.4 million, or 18 cents per share, in the year-ago period. The office-supply retailer said sales fell to $5.31 million, down from $5.43 million a year earlier.
Shares of Staples Inc. plunged 12.60 percent to $14.70 in morning trade.
After the bell on Wednesday, Hewlett-Packard Company (NYSE:HPQ) and L Brands Inc (NYSE:LTD) report quarterly earnings results.
The Dow Jones industrial average fell 41.67 points, or 0.28 percent, at 14,961.32. The S&P 500 Index was down 3.50 points, or 0.21 percent, at 1,648.92. The Nasdaq Composite Index was up 0.28 points, or 0.01 percent, at 3,613.78.
