Target Corporation (NYSE:TGT) shares rose around 1. 4% in premarket trading on Wednesday after the retailer posted first-quarter results that came in ahead of Wall Street forecasts.

For more than a year, retail giant Target has watched its customers slip away to rivals like Amazon and Walmart - but in the first quarter the company finally saw its turnaround plan start to work.

Target's stock plunged in early trading Wednesday, despite quarterly results that came in ahead of Wall Street estimates.

The retailer is working to turn its grocery department “into a reason [shoppers] choose to come to Target,” its merchandising chief told investors.

Target, the retailer headquartered in Minnesota, is opening a $265 million receive center in Houston this week as it aims for growth in the region.