TITLE

Bullseye (almost) for Target 3rd

AUTHOR(S)
Hogsett, Don
PUB. DATE
November 2003
SOURCE
Home Textiles Today;11/17/2003, Vol. 25 Issue 12, p10
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Target Corp. has recorded a third-quarter profit of $302 million for the year 2003, up 7 percent from $277 million in 2002. Continuing to drive the parent's growth is the fast-track Target Stores division, where a pre-tax profits increased by 12.5 percent, to $604 million from $537 million in the previous year. Target sales increased by 13.9 percent, to $9.6 billion from $8.5 billion. An increasingly strong contribution came out of the company's growing credit card portfolio, where a pre-tax profits increased to $1,162 million from $138 million. Profits from other businesses, while meager, still contribute to the company's expanding operations. Earnings at Mervyn's declined by 41.8 percent during the 2003 third quarter, to $31 million from $52 million in the previous year, while sales fell 10.1 percent, to $825 million from $917 million. Marshal Field's profits sank by 54.7 percent, to $15 million from $34 million. Department store sales fell by 6.3 percent, to $634 million from $677 million.
ACCESSION #
11452325

 

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