Target warns first-quarter profit will miss forecasts

Retailer Target Corp on Tuesday warned first-quarter earnings would miss expectations, after weaker-than-expected sales of seasonal and weather-sensitive items.

Target said adjusted earnings per share would come in below the low end of its prior outlook of $1.10 to $1.20, and comparable store sales growth will be about flat. Shares fell 2.1 percent in premarket trading on the news.

(Reporting By Ben Berkowitz; Editing by Gerald E. McCormick)