Cybersecurity
Target Profit Tops Estimates as Sales Recover Under New CEO
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Target Corp. posted third-quarter earnings that beat analysts’ estimates after U.S. sales grew faster than the company expected and its money-losing expansion into Canada showed signs of improvement.
Earnings amounted to 54 cents a share, excluding some items, the Minneapolis-based company said today in a statement. Analysts had predicted 47 cents on average, according to data compiled by Bloomberg. U.S. comparable-store sales increased 1.2 percent in the period, which ended Nov. 1, helped by online orders. Target had projected growth of as much as 1 percent.