Shares of Target (TGT) ended the week with very modest gains of 0.8%. The retailer announced its third quarter results on Thursday.
Third Quarter Results
Target reported third quarter revenues of $16.9 billion, up 3.2% on the year. Sales were driven by a 2.9% increase in comparable sales.
The company reported operating income before taxes of $1.16 billion, up 10% on the year. The company net earned $637 million, or $0.96 per diluted share. Earnings were driven by a $156 million gain related to the sale of credit-card receivables.
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