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Target Corp. Message Board

  • adspatz adspatz Nov 21, 2013 10:52 AM Flag

    Target earnings tank 46%

    Search for "SEC Live Filings Digest" to find out more.
    Target Corp. (TGT) announced its financial results for the third quarter of fiscal year 2013, which were weighed down dramatically due to dismal results in its Canadian operations. The second-largest retailer by sales in the United States, behind only Wal-Mart, has been exploring ways to increase its revenue in a sluggish economy with cautious consumer spending. Target posted earnings of $341M and $0.54 per share, down 46% from $637M and $0.96 per share a year ago. These results were weighed down from a $238M loss reported by its Canadian operations. Performance in the United States was positive, with same-store sales improving 0.9% while overall sales increased 2% to $16.9B. CEO Gregg Steinhafel remarked that the company’s results reflect its ability to execute well in the U.S., despite constrained consumer spending.

69.28+0.59(+0.86%)May 25 4:02 PMEDT