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VOL. 40 | NO. 8 | Friday, February 19, 2016

Target swings to profit, comparable-store sales rise again

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NEW YORK (AP) — Target is swung back to a profit for the fourth quarter and it's reporting its sixth consecutive quarter of rising comparable-store sales.

The results Wednesday show that Target has made some progress in reinvigorating its business and winning back shoppers.

Target earned $1.43 billion, or $2.32 per share in the quarter ended Jan. 30. That compares with a loss of $2.64 billion, or $4.10 per share in the year-ago period.

Still, adjusted earnings results were $1.52 per share, which was a bit below the $1.54 per share estimate, according to FactSet.

Revenue slipped 0.6 percent to $21.63 billion on the sale of its pharmacy business to CVS, also a bit shy of Wall Street expectations.

Sales at stores open at least a year rose 1.9 percent.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0