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Article: TARGET NET GAINS 17.5% IN QTR.(Financial report)
- Article from:
- WWD
- Article date:
- May 24, 2007
- Author:
CopyrightCOPYRIGHT 2007 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Vicki M. Young
Target Corp. on Wednesday posted first-quarter results that beat Wall Street's expectations by 4 cents on a strong sales gain.
Target said net income jumped 17.5 percent to $651 million, or 75 cents a diluted share, from $554 million, or 63 cents, in the same year-ago quarter. Wall Street was expecting earnings per share of 71 cents. Total revenues gained 9.2 percent to $14 billion from $12.9 billion, which included a sales increase of 9 percent to $13.6 billion from $12.5 billion. Same-store sales increased 4.3 percent. Credit card revenues also helped to boost the company's bottom line, which jumped 13 percent in the quarter to ...