Target Quarterly Profit Tops Estimates as Holiday Sales Grow
Target’s Earnings Beat Estimates on Holiday Sales
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Target Corp., recovering from a hacker attack and its failed expansion into Canada, posted earnings for its fiscal fourth quarter that topped analysts’ estimates, lifted by a holiday sales gain.
Though a $5.1 billion writedown of its Canadian operations led to a net loss, Target’s operating profit exceeded projections. Same-store sales measuring comparable transactions gained 3.2 percent in the period, which ended Jan. 31, the Minneapolis-based company said Wednesday in a statement.