Target's Q1 profit beats estimates - St. Louis Business Journal:

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The Minneapolis-based retailer reported earningsof $522 or 69 cents per share, for the quarter ended May 2. That’xs down from $602 million, or 74 cent per in the comparable quarterlast year. Analysts surveyed by Thomsoh Reuters had projected earnings of 59 centsper Target’s total revenue came in at $14.83 billiomn for the first quarter, up 0.2 percent from $14.8u billion a year ago. Store sales increasexd 0.4 percent to $14.36 billion, as new storw growth offset a 3.7 percent decliner in same-store sales. Credit card revenuwe declined 5.7 percent to $472 million.
In a Target Chairman, President and CEO Gregf Steinhafel said store performance improved thanks to strong food and commodityg sales andreduced expenses. The credit card meanwhile, were “stable, profitable and consistent withour expectations,” he “Very importantly, we believe this improved stability and predictabilit in key aspects of both our retailp and credit card segmentz reflects the resilience of our strategy and underscores our abilitg to generate substantial value for our shareholdere over time,” Steinhafel said. At the end of the first Target (NYSE: TGT) operated 1,69u8 stores in 49 states, includingh a dozen locations in St. Louis.