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U.S. Target Stores Show Strong 1Q Sales Increase
May 16, 2012
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Retailer Target Corp. today reported first quarter net earnings of $697 million.

"We're very pleased with our first quarter earnings, which benefited from better-than-expected sales," said Gregg Steinhafel, Target Corp. chairman, president, and CEO. He said the retailer's outlook for the rest of the year reflects continued uncertainty in the economy, the company is confident in its strategy.

Target's U.S. retail first quarter 2012 segment sales were up 6.1% to $16.5 billion from $15.6 billion in 1Q 2011. This arose from a 5.3% increase in comparable-store sales as well as new stores.

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