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Courtesy of Benzinga.
Target Corp (NYSE: TGT) posted a decline in its fourth-quarter profit.
Target’s quarterly profit dropped to $981 million, or $1.45 per share, from $1 billion, or $1.45 per share, in the year-earlier period. Target’s adjusted profit came in at $1.49 per share. Its sales gained 3.3% to $20.9 billion. However, analysts were expecting earnings of $1.40 per share on sales of $21.2 billion.
Target projects adjusted Q1 profit of $0.97 to $1.07 per share, versus analysts’ estimates of $0.96 per share. Target expects full-year adjusted earnings of $4.55 to $4.75 per share, versus analysts’ estimates of $4.28 per share.
Target shares gained 0.43% to $53.20 in pre-market trading.
(c) 2011 Benzinga.com. All rights reserved. This material may not be published in its entirety or redistributed without the approval of Benzinga.
For more Benzinga, visit Benzinga Professional Service, Value Investor, and Stocks Under $5.
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