Target Corp. reported net earnings of $679 million for the quarter ended July 31, 2010, up from $594 million in the same quarter of 2009.
"Our retail segment generated strong profitability, overcoming softer-than-expected sales," said Gregg Steinhafel, chairman, president, and CEO.
Sales increased 3.8% in the second quarter to $15.1 billion in 2010 from $14.6 billion in 2009, due to the contribution from new stores and a 1.7% increase in comparable-store sales.
Target's retail segment includes large general merchandise and food discount stores and Target.com. It currently operates 1,743 Target stores in 49 states.
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