MINNEAPOLIS-Target executives reported positive recent results in the firm’s second quarter conference call held Wednesday, reporting a 3.7% increase in same-store sales and net earnings of $704 million for Q2 2011, up $25 million from Q2 2010. The company seems to be on better footing this year, as retail deals with the recent uncertainty and the firm readies to open up to 135 new stores in Canada by 2015.

Gregg Steinhafel, chairman, CEO and president, said during the call that economic challenges, including inflation, persistent unemployment, weak housing and financial markets, and fiscal crises at every level of government continue to limit consumer confidence and spending. However, for the past three months, Target saw sales growth accelerate to the strongest performance the firm has experienced since 2007, he said.

Steinhafel credits this growth to continued updating of stores and products, strict management of credit card and investments in new technology. The firm has been spending capital to get capital, with 180 remodel projects completed during the second quarter, and another 140 remodels expected to be complete in the third quarter.