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Article: TARGET NET GAINS 12.6%.
- Article from:
- WWD
- Article date:
- August 22, 2007
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 Tuesday posted robust second-quarter and first-half results, which were boosted in part by better-than-average performance in apparel, as the retailer reaffirmed full-year earnings projections.
For the three months ended Aug. 4, net income gained 12.6 percent to $686 million, or 80 cents a diluted share, from $609 million, or 70 cents, in the same year-ago quarter as revenues rose 9.5 percent to $14.62 billion from $13.35 billion. The revenue increase was bolstered by a 9.3 percent gain in sales to $14.17 billion and a 4.9 percent increase in same-store sales. The balance of the revenues came from its credit card ...