News
Target Profits Surge in First Quarter
Target came out a winner in this week's stampede of retail earnings reports. The company today announced a $17.3B in first quarter revenue, up from $16.7B in 1Q14. Analysts had predicted $17.1B in revenue for the chain. Same-store sales ticked up 2.3%. But much credit for the strong quarter goes to online sales, which soared 40%. Profits enjoyed similarly pleasing growth, climbing this quarter to $635M from $418M for the same period in the previous year. Target's success comes as a relief after a disappointing earnings report that Walmart released earlier this week.
