Target Fourth-Quarter Profit Tops Estimates on Sales Growth
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Target Corp., the second-largest U.S. discount retailer, posted fourth-quarter earnings that exceeded some analysts’ estimates, helped by discount card initiatives and grocery sales.
Net income declined 5.2 percent to $981 million, or $1.45 a share, from $1.04 billion, or $1.45, a year earlier, the Minneapolis-based company said today in a statement. Excluding some items, profit totaled $1.49. Analysts projected $1.39, the average of estimates compiled by Bloomberg.