Target profit rises and reiterates full-year view

Target Corp on Tuesday said its quarterly profit rose more than 12 percent, boosted by strong sales at stores open at least a year and returns from its credit-card business.

The retailer also reiterated its full-year earnings outlook.

Target, the second-largest U.S. discount chain behind Wal-Mart Stores Inc , said earnings rose to $686 million, or 80 cents per share, in its second quarter ended August 4 from $609 million, or 70 cents per share, a year earlier.

Analysts, on average, had been expecting it to earn 80 cents per share, according to Reuters Estimates.

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- Posted: 2007-08-21 10:31:11

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