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Target Q3 Dips

17 Nov, 2008 By: Chris Tribbey

Target has reported lower third-quarter earnings of $369 million, down from $483 million during the same period in 2007, with 2008 third-quarter revenue of more than $15.1 billion.

Target executives in a conference call with investors Nov. 17 said Target will be aggressive in marking down prices to be competitive during the holidays, including an online “Deal of the Day” that will feature six aggressively marked down items for a 24-hour period.

“In toys, electronics and entertainment — three categories which account for roughly a third of our total holiday sales — we are focused on having the right mix of must-have items …,” said Kathryn Tesija, EVP of merchandising for Target, specifically mentioning Blu-ray Disc and Apple products.

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