Target Says Profit Will Meet Estimates
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Target Corp., the second- largest U.S. discount retailer, said fiscal first-quarter profit would rise more than forecast as consumers buy more toys, DVDs and linens at its namesake chain.
Target will “meaningfully outperform” expectations for the period ending May 4 on the strength of sales at Target stores, spokeswoman Cathy Wright said. The company didn’t give a specific forecast. The average estimate of analysts surveyed by Thomson Financial/First Call is 33 cents a share.
Shares of Minneapolis-based Target fell 8 cents to $44.67 on the NYSE.
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