MINNEAPOLIS (AP) — Target is reporting another quarter of strong sales and profits and raising its outlook as it pushes faster delivery and new store brands.
The discounter said Thursday that third-quarter comparable sales, which also include online sales, rose 4.5%. That reflects a 2.8% growth in stores open at least a year. Third quarter online sales rose 31%.
Profit was $714 million, or $1.39 per share. Earnings, adjusted to account for discontinued operations and non-recurring gains, came to $1.36 per share, easily beating Wall Street per-share expectations for $1.19.
Revenue was $18.67 billion, also topping projections.
Shares of Target Corp. are up almost 10%.
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