Target profit climbs as customer traffic increases

  • 9 years ago
Target says its sales rose 1.9 percent at established locations in the third quarter as it worked to revive its business by strengthening flagship categories like clothing and children's products.
Looking ahead to the critical holiday shopping season, Target CEO Brian Cornell also said the company is confident about its plans and the Minneapolis-based company expects sales to climb 1 to 2 percent for the final three months of the year.
For the three months ended Oct. 31, Target said its sales were drive by strength in signature categories including style, baby, kids and wellness.
Not including one-time items, the company earned 86 cents per share, which was in line with Wall Street expectations, according to 12 analysts surveyed by Zacks Investment Research .