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Target Hits the Mark

MINNEAPOLIS-General merchandise discount retailer, Target Corp., reports a 26.4% increase in earnings and a 12.7% increase in revenues for Q1.

By Dana Dubriwny | Updated on May 13, 2005

MINNEAPOLIS-Target Corp. reported earnings of $494 million, or 55 cents per diluted share for the first quarter ending April 30, compared with $392 million, or 43 cents per diluted share in the first quarter ended May 1, 2004.

“We are pleased with our first quarter results,” said Bob Ulrich, chairman and chief executive officer. “Our performance reflects our discipline in executing our strategy and our success in delighting our guests with the right combination of innovation, design and value.”

Total revenues in the first quarter increased 12.7% to $11.5 billion from $10.2 billion in 2004, driven by a 6.2% increase in comparable store sales combined with the contribution from new store expansion and credit card operations.

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