Target Net Edges Up 1.2 Percent in First Quarter
May 16, 2012,
MINNEAPOLIS-With a sales gain of 6.1 percent, Target was able to pump its first-quarter net income by 1.2 percent to $697 million.
Net sales reached $16.5 billion, including a same-store sales gain of 5.3 percent. Sales in the quarter, which ended on April 28, were better than Target expected, said Gregg Steinhafel, chairman, president and CEO.
Steinhafel said the outlook for the remainder of this year includes "continued economic uncertainty," but that Target remains focused on its strategy of delivering affordable merchandise and on "making thoughtful investments" in its U.S. and Canadian businesses.
Other Articles By Author
HFN Launches Interactive Idea Book
HFN's DIGITAL EDITION
COVER STORY: HFN Turns 90
We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.
ALSO IN THIS ISSUE:
- Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
- Omnichannel Retailing - In the Mobile App World, Time is Money