Target Corporation Updated guidance for the Fourth Quarter and Full-Year 2017. For fourth quarter, the company expected sales growth in a range around 3.4%, consistent with results in the November/December period. Total sales are expected to grow more than 9% in the fourth quarter. Adjusted EPS of $1.30 to $1.40, compared to the prior range of $1.05 to $1.25. This expectation reflects a 6 to 8 cent benefit from a lower structural tax rate in January resulting from recently-enacted federal tax reform legislation.

For the year, the company expected comparable sales growth of just over 1%. Adjusted EPS of $4.64 to $4.74, compared with prior guidance of $4.40 to $4.60. Full-year GAAP EPS from continuing operations is expected to be higher than Adjusted EPS, reflecting the previously-noted tax-reform benefit primarily related to Target's net deferred tax liabilities.

The company also provided earnings guidance for the year 2018. For the year, the company expected continues to develop detailed financial plans for 2018, the Company is currently planning for a low single-digit increase in its 2018 comparable sales and year-over-year stability in EPS generated by its core business, excluding the benefit of federal tax reform. While the Company has not updated its expectations for 2018 capital expenditures, the benefit of recently-enacted federal tax reform legislation will create additional cash flow that Target will deploy in support of its longstanding capital deployment priorities, including capital investments, dividends and additional share repurchase. Combining expectations for stable core-business profitability with the benefit of federal tax reform, Target expects 2018 GAAP EPS from continuing operations and Adjusted EPS of $5.15 to $5.45.