In the US, Target has announced that net earnings increased 30 per cent through the first quarter of the year to US$671m, up from the US$522m posted in the same period of 2009.
Earnings per shared jumped to their highest value from continuing operations in the company's history, US$0.90 per share, rising from the US$0.69 per share seen last year.
Sales moved upwards to US$15.2bn in 2010 from US$14.4bn in 2009, mainly thanks to a 2.8 per cent increase in same-store sales and contributions from new outlets.
'We're very pleased with our first quarter financial results, which were the result of disciplined execution by our teams in a stronger-than-expected economic enviornment,' said Target chairman, president and CEO Gregg Steinhafel.
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