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Target Q4 Profit More Than $1B

24 Feb, 2011 By: Chris Tribbey

Target Corp. reported a profit of $1.03 billion for the fourth quarter of 2010 (ended Jan. 29), up from $936 million during the same quarter of 2009.

Earnings per share were up 17% year over year to $1.45, with full-year earnings per share at $4 even, up 21.4% over 2009.

“Beyond 2011, we plan to expand our store footprint in new ways, opening our first City Target stores in 2012 and opening 100 to 150 Canadian Target stores in 2013 and 2014,” said Gregg Steinhafel, chairman, president and CEO of Target.

Sales for the quarter were up 2.8% year over year to $20.3 billion, while for all of fiscal 2010 sales were up 3.7% to $65.8 billion.

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