Target’s 3Q Profits Up 3.7 Percent
NEW YORK (AP) — Target Corp. is reporting a 3.7 percent increase in third-quarter profits, helped by solid spending and improvement in its credit card business.
The discounter says Wednesday that it earned $555 million, or 82 cents per share, in the three-month period ended Oct. 29. That compares with $535 million, or 74 cents per share, in the year-ago period.
Revenue rose 5.4 percent to $16.05 billion.
Analysts had expected 74 cents per share on revenue of $16.31 billion, according to FactSet.
The discounter is based in Minneapolis.
(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)