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(AP Photo/Chris O'Meara)
May 21 (Bloomberg) — Target Corp., struggling to rebound from last year’s hacker attack and a botched Canadian expansion, posted first-quarter profit that missed analysts’ estimates and cut its annual forecast.

Net income fell 16 percent to $418 million, or 66 cents a share, from $498 million, or 77 cents, a year earlier, the company said today in a statement. Analysts had projected 71 cents on average, according to data compiled by Bloomberg. Still, same-store sales didn’t decline as much as predicted, signaling to investors that a comeback may be under way. The stock rose less than 1 percent today in New York trading.

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