Target Net Climbs 3.7 Percent in Third Quarter
November 16, 2011,
MINNEAPOLIS-A gain in sales helped propel Target to a 3.7 percent increase in net income in the third quarter, to $555 million.
The bottom-line result included a $35 million operating loss from the company's recently formed Canadian segment, reflecting expenses related to Target's entry into that market, which is planned for 2013.
Gregg Steinhafel, Target's chairman, president and CEO, said the third-quarter results show that Target has "the right strategy and team in place to drive continued strong performance this holiday season and well into the future."