Target Raises Profit Forecast as Groceries Boost Sales
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Target Corp. raised its annual profit forecast as the second-largest U.S. discount retailer increases sales by adding groceries and enticing more spending from customers with a discount card.
Net income this year will rise to as much as $4.40 a share, the Minneapolis-based chain said today in a statement. That’s up from a previous projection of a maximum of $4.30 a share in May. The average of analysts’ estimates compiled by Bloomberg was $4.30.