Discount retailer Target Corp., helped by store expansion and improved sales at existing locations, reported a 14 percent rise in profits in the fourth-quarter.
Target said Thursday that for the three-month period ended Jan. 28, profits rose to $939 million ($1.06 per share) from $825 million (91 cents) the year before. That just beat the $1.05 analysts’ estimate. Quarterly revenue totaled $16.95 billion, up 12 percent from $15.19 billion a year earlier, and edging above the consensus target of $16.87 billion.