Retail Earnings News: Target Corporation (NYSE: TGT), Abercrombie & Fitch Co (NYSE: ANF)

Category: Companies / Feb 26, 2014 10:53AM EDT

Target Corporation (NYSE: TGT) on Wednesday reported fiscal fourth-quarter earnings of $520 million, or 81 cents a share, from $961 million, or $1.47 a share, a year ago. Meanwhile, during the fourth quarter of 2013, sales decreased 6.6 percent to $20.9 billion from $22.4 billion last year.

Shares of Target jumped 5.01 percent to $59.34 in morning trading.

Abercrombie & Fitch Co. (NYSE: ANF) posted earnings excluding certain items of $1.34 per share for the fourth quarter, topping analysts’ expectations for $1.03; however, sales fell below forecasts. The company said net sales for the thirteen week period ended Feb. 2 were approximately $82 million less than net sales for the reported fourteen week period ended Feb. 2, 2013.

On Wednesday, Abercrombie & Fitch stock soared 8.53 percent to $39.06.

Video Credit: Reuters