Target earnings flat in second quarter
Go Deeper.
Create an account or log in to save stories.
Like this?
Thanks for liking this story! We have added it to a list of your favorite stories.
By ANNE D'INNOCENZIO, AP Retail Writer
NEW YORK (AP) -- Target is reporting that net income for the second quarter was unchanged, with results dragged down by the retailer's upcoming move into Canada. Yet customers are again spending money and the cheap chic discounter raised its earnings outlook.
The company posted earnings Wednesday of $704 million, or $1.06 per share in the period ended July 30. That compares with $704 million or $1.03 per share, in the year ago period.
Excluding expenses tied to Canada, Target earned $1.12 per share, which easily topped expectations of $1.01 per share on Wall Street, according to FactSet.
Shares edged higher in premarket trading.
Overall revenue rose 3.5 percent to $16.45 million in the quarter and revenue at stores opened at least a year rose 3.1 percent.
Target Corp. is based in Minneapolis.
Turn Up Your Support
MPR News helps you turn down the noise and build shared understanding. Turn up your support for this public resource and keep trusted journalism accessible to all.
