Target posts flat profit as it gets ready for Canada
TARGET (TGT.NY)earned $704 million, or $1.06 per share, for the second quarter, compared with a profit of $704 million, or $1.03 per share, a year earlier. Target had fewer shares outstanding than a year earlier.
Target earned $1.12 per share, excluding items, in line with its forecast of $1.04 per share to $1.14 per share.
The U.S. discount chain previously reported that sales in the quarter rose 3.5 percent to $16.45 billion, while sales at stores open at least a year, or same-store sales, rose 3.1 percent.
(Reporting by Jessica Wohl in Chicago; Editing by Gerald E. McCormick)