Target Projects Sales Will Top $100 Billion on Canada Stores

Target Corp., the second-largest U.S. discount retailer, said annual sales may top $100 billion within the next seven years, bolstered by its first expansion outside the U.S.

That would amount to an increase of more than 50 percent from last year. The chain also may double earnings per share over that period, Chief Financial Officer Douglas Scovanner said today on a conference call after fourth-quarter results. Net income in the period ended Jan. 29 rose 11 percent to $1.04 billion, the Minneapolis-based company said.