Target Corp. has reported a same-store sales increase in the U.S. for the first time in one year as well as a better profit than expected. Its same-store sales grew by 1.2 per cent and earnings per share grew by one cent to $0.55. Target’s shares rose by 5.4 per cent to $71.15 after its earnings report was released.
Meanwhile, the company says it plans to review Target Canada after the holiday season. The Canadian business’ sales grew by 44 per cent this quarter to $479 million, but that was offset by losses of $211 million. This comes after the company made an effort to improve its business in Canada by stocking a larger assortment of products and products that are more relevant to the Canadian market.
