Target 1Q Earnings Climb on Higher Sales - NewsOn6.com - Tulsa, OK - News, Weather, Video and Sports - KOTV.com |

Target 1Q Earnings Climb on Higher Sales

Updated:
MINNEAPOLIS (AP) _ Target Corp., the nation's second-largest discount department store chain, said Thursday that first-quarter profit climbed 15 percent on robust sales growth.

The company earned $494 million, or 55 cents per share, in the three months ended April 30, up from $432 million, or 47 cents per share, a year earlier. Analysts surveyed by Thomson Financial had expected 53 cents per share on sales of $11.53 billion.


Revenue grew 13 percent to $11.48 billion from $10.18 billion on the strength of new store openings and a 6.2 percent sales increase at stores open at least a year. Target added 81 stores during the past year for a total of 1,330.

Also, its credit card operations contributed $142 million in pre-tax earnings, up 28 percent from the same period last year.

Target added that markups also boosted results, though these were partly offset by higher selling, general and administrative expenses.
Powered by Frankly
News On 6
303 N. Boston Ave.
Tulsa, OK 74103
Newson6.com is proud to provide Oklahomans with timely and relevant news and information, sharing the stories, pictures and loves of Oklahomans across our great state.
All content © Copyright 2000 - 2017 KOTV. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.