Target Earnings Drop 6 Percent
Target this week reported a profit of $594 million, a drop of 6 percent from the same period last year. However, the results outstripped analyst expectations, according to the Twin Cities Business Journal.
The company reported $14.6 billion in sales, down from $15 billion the same time last year.
"Second quarter earnings were stronger than expected due to very strong operating margin in our retail segment, and credit card segment performance in line with expectations,” Target CEO Gregg Steinhafel said in a statement.