Pursuits
Target Net Rises 14%; Sales ‘Softer’ Than Estimated
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Target Corp., the second-largest U.S. discount retailer, posted a 14 percent profit gain that met analysts’ estimates after earnings at the credit-card unit increased.
Target said today that net income rose to $679 million, or 92 cents a share, meeting the average of estimates compiled by Bloomberg. Second-quarter sales came in “softer than expected,” Chief Executive Officer Gregg Steinhafel said in a statement.