India, March 4 -- Retailer Target Corp. (TGT) and Best Buy Co., Inc. (BBY) reported Tuesday net profits for the fourth quarter that declined from last year, but earnings per share and quarterly revenues at both retailers topped analysts' estimates. The companies also provided outlook for the full-year.
Discount retailer Target reported that net earnings for the fourth quarter decreased to $1.10 billion or $2.41 per share from $1.38 billion or $2.98 in the year-ago quarter, which included an additional week.
On average, 32 analysts polled expected the company to report earnings of $2.25 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter declined 3.1 percent to $30.92 billion from $31....