Pursuits
Target Profit Tops Analysts’ Estimates on High-Margin Sales
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Target Corp., the second-largest U.S. discount retailer, posted third-quarter profit that topped analysts’ estimates as it sold more higher-margin items and reduced costs.
Net income rose 3.7 percent to $555 million, or 82 cents a share, from $535 million, or 74 cents, a year earlier, the Minneapolis-based company said today in a statement. Excluding some items, profit was 87 cents a share. Analysts projected 74 cents, the average of 20 estimates compiled by Bloomberg.