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Target Beats Profit Expectations For 2nd Quarter

August 19, 2015: 12:00 AM EST
Target Corporation reported second quarter 2015 adjusted earnings per share of $1.22, an unexpected increase of 20.6 percent from $1.01 in 2014. However, the company also predicted unsatisfactory sales for this quarter, noting that consumer demand would likely stay uneven. The retailer’s higher-than-expected quarterly profit raised its full-year earnings forecast. COO John Mulligan told analysts he expects sales at stores open at least a year to increase as much as two percent this quarter. That would include digital sales growth of around 30 percent. Same-store sales rose 2.4 percent in the second quarter ended on July 31, to $17.4 billion from $17 billion last year.
"Target Reports Second Quarter 2015 Earnings", Earnings release, Target, August 19, 2015, © Target Brands, Inc.
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