Target Soars After Strong Back-to-School Season Fuels Sales
- Company bounces back from slowdown in previous quarter
- Retail chain also increases its earnings forecast for the year
Target 3Q Profit Jumps on Back-to-School Season
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Target Corp. rallied the most in almost eight years after a strong back-to-school season fueled third-quarter earnings, stoking optimism for the retailer as it heads into the holidays.
Profit in the quarter was $1.04 a share in the period, excluding some items, the Minneapolis-based company said on Wednesday. Analysts had estimated 83 cents on average, according to data complied by Bloomberg.