Target Corp. said that its third quarter 2013 U.S. comparable sales increase--0.9%--was near the low end of prior guidance, but adjusted earnings per share of $0.84 were near the mid-point of the expected range
The North American retailer had 3Q 2013 sales of $17,258 million, up 4.0% from $16,601 million in 3Q 2012. Net earnings of $341 million, or $0.54 per share, down 46.4% from $637 million in 3Q 2012.
"Target's third quarter financial results reflect continued strong execution in our U.S. Segment in an environment where consumer spending remains constrained," said Gregg Steinhafel, Target chairman, president, and CEO.
Target, based in Minneapolis, has 1,797 retail stores in the United States and 122 in Canada and operates the Target.com retail web site.
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