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Target Results Hit Bullseye

May 19, 2010, 11:28 AM
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Target's first-quarter earnings hit $671 million -- up 29% from $522 million in the same period a year ago -- while sales gained 5.5% to $15.2 billion, up from $14.4 billion. That includes a 2.8% increase in comparable-store sales, which the company says is due both to its own performance as well as a stronger-than-expected economic environment for its customers.

The Minneapolis-based chain says the results were well above its expectations, and that sales of discretionary items -- including clothing -- were especially solid.--Sarah Mahoney

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