It's Wednesday, May 19th, the welcome to Market Foolery, I'm Chris Hill with me today,

the one and only, Emily Flippin.

Thanks for being here.

Hey, Chris.

We've got video game earnings, we've got home improvement earnings, we are going to

start with another all-time high for shares of Target.

First quarter profits, crushed expectations, same store sales were up 23%, which was more

than double what Wall Street was expecting.

Target also restored full-year guidance.

This quarter was insane, and when I say insane, insanely unpredictable.

For people to remember, we're coming off of what was an incredible year in 2021, central

businesses like Target, so all the numbers we're seeing this quarter are on top of what

was already really impressive numbers last year.

So they had revenue of just under $24 million in the quarter, which is up 23% year-of-year.

Earnings that were 64% more than what Wall Street was expecting, and was a 525% increase

year over year, and their same store sales, as you mentioned, Chris, were up nearly 23%,

which was also more than double what Wall Street expected.

It actually left me scratching my head, thinking to myself, why?

Not that Target isn't a great business.

It's a wonderful business, but what are people buying at Target that led to a 17% increase

in traffic comparables, and a 5% increase in basket comparables?

And the only answer I could come up with was apparel, it seems like, was what management

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