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)