Net earnings for Q4 2004 were $825 million (up 11.1% from the previous year), or $0.91 per share, while net earnings for the full year were $3.198 billion (up 11.5%), or $3.51 per share. Total year results were pumped considerably by a one-time gain of $1.238 billion, or $1.36 per share, related to the sale of Marshall Field's and Mervyn's, which was completed in mid-2004.

Looking ahead, the company is planning a number of initiatives to spur business in 2005. According to Gregg Steinhafel, president of Target Stores, the retailer is increasing its efforts to sell foodstuffs at its stores. "We've intensified our focus on key food-related holidays, such as Easter, graduation, the fourth of July, Thanksgiving and Christmas, giving our guests more reason to shop our stores for seasonal food items," he said during Thursday's earnings conference call. "We're offering an increased selection of prepared foods, meals ready in less than 30 minutes, and wine in more than 300 stores."

In the company's pharmacies, he noted, Target is working on a new design for its pharmaceuticals containers, which will roll out this spring. The new pill bottles will come with color-coded rings that allow for easy identification among family members who might be taking different medicines at the same time. Target is also going to introduce a new liquid-dispensing system for children's medicine at its pharmacies shortly.