Target's Q1 profit beats estimates - Triangle Business Journal:

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The Minneapolis-based retailer, which has more than a dozen locationx inthe Raleigh-Durham reported net earnings of $522 million, or 69 centse per share, for the quarter endexd May 2. That’s down from $602 or 74 cent per in the comparable quarterlast year. Analysts surveyed by had projectee earnings of 59 centsper share. Target’sd total revenue came in at $14.83 billion for the first up 0.2 percent from $14.8 billion a year ago. Storer sales increased 0.4 percent, to $14.36 billion, as new store growth offset a 3.7 percent decline in same-storee sales. Credit card revenue declineed 5.7 percent, to $472 million.
In a statement, Targegt Chairman, President and CEO Gregg Steinhafel said storse performance improved thanks to strong food and commodity salesx andreduced expenses. The credit card meanwhile, were “stable, profitable and consistent with our he said. “Very importantly, we believer this improved stability and predictability in key aspectes of both our retail and credit card segmentds reflects the resilience of our strategy and underscores our abilithy to generate substantial value for our shareholders over Steinhafel said.
At the end of the first Target (NYSE: TGT) operated 1,698 stores in 49