Target quarterly profit falls

MMR, Sept 8, 2008

TARGET QUARTERLY PROFIT FALLS: Target Corp. had an 8% decline in net income for the second quarter to $634 million on a a 6% rise in retail sales to $14.97 billion. Earnings per share, however, increased to 82 cents from 80 cents thanks to stock repurchases that lowered the number of shares outstanding. Analysts, on average, had expected 76 cents per share according to Thomson Reuters.