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Target Reports Strong First Quarter Earnings May 19, 2010 |
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Target Corp. reported net earnings of $671 million for the quarter ended May 1, 2010, up from $522 million in the first quarter of 2009.
“We’re very pleased with our first quarter financial results, which were the result of disciplined execution by our teams in a stronger-than-expected economic environment,” said Gregg Steinhafel, Target chairman, president, and CEO. “Our retail segment delivered results well above our expectations."
Retail segment sales increased 5.5% in the first quarter of 2010 to $15.2 billion, up from $14.4 billion in 2009, with a 2.8% increase in comparable-store sales and contributions from new stores.