Target quarterly comparable sales miss estimates

[May 18, 2016]  CHICAGO (Reuters) - Target Corp on Wednesday reported a higher-than-expected quarterly profit, but sales at established stores came in below analysts' estimates.

Excluding gains from the sale of Target's pharmacy and clinic business and restructuring charges, earnings stood at $1.29 per share in the first quarter ended on April 30.

Analysts on average were expecting $1.20 per share, according to Thomson Reuters I/B/E/S.

Sales at stores open for at least a year rose 1.2 percent, less than the market consensus of 1.6 percent, according to research firm Consensus Metrix.

(Reporting by Nandita Bose in Chicago; Editing by Lisa Von Ahn)

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