Target Hits The Mark

Target's profit topped expectations, thanks in part to stronger consumer spending and a big improvement in its credit card segment.

Sales for the first quarter grew by 5.4% to $15.6 billion, in line with Wall Street expectations, from $14.8 billion reported in last year's corresponding period. Earnings meanwhile jumped 28.5% to $671 million, or 90 cents per share, from $522 million, or 69 cents per share, ahead of the Street's estimate of 86 cents per share.

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- Posted: 2010-05-19 09:36:03

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