Target's 2Q Earnings Beat Expectations

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MINNEAPOLIS (AP) -- Target is reporting second-quarter profit of $672 million, or $1.22 per share.

The adjusted earnings, removing one-time costs and benefits, was $1.23 per share, which was 3 cents better than industry analysts had expected, according to a poll by Zacks Investment Research.

The Minneapolis retailer posted revenue of $16.43 billion in the period, also topping Wall Street expectations of $16.28 billion.

Target Corp. gave broad per-share earnings guidance for the current quarter of between 75 and 95 cents. Full-year earnings, it said, are expected to be in the range of $4.34 to $4.54 per share.

Target