Target Earnings Up in First Quarter May 25, 2007

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Retailer Target Corp. reported net earnings for the first quarter ended May 5, 2007 of US $651 million, or $0.75 per share, compared with $554 million, or $0.63 per share in the first quarter ended April 29, 2006, for a 19.6% increase.

"We are pleased with the strength of our first quarter results in both our core retail and credit card operations," said Bob Ulrich, chairman and CEO. "Our overall performance reinforces our confidence in our ability to continue to generate profitable market share growth for the full year 2007 and many years to come."

Total Q1 revenues increased 9.2% to $14.041 billion from $12.863 billion in 2006, reflecting a 4.3 percent increase in comparable-store sales combined with the contribution from new store expansion and from credit card operations.
 

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