MINNEAPOLIS (AP) — Target Corp. is reporting a 10 percent gain in fourth-quarter profits, boosted by an improving credit card business and solid holiday sales.
The discounter reported net income of $1.03 billion, or $1.45 per share in the three months ended Jan. 29. That compares with $936 million, or $1.24 per share, in the same period last year.
The results included an income tax benefit of 7 cents.
Total revenue rose 2.4 percent to $20.66 billion. Revenue at stores opened at least a year also rose 2.4 percent.
Analysts were expecting $1.39 per share on revenue of $20.28 billion.
Target is based in Minneapolis.