Target upbeat about holidays after 3Q climbs

Associated Press Modified: November 15, 2012 at 5:15 pm •  Published: November 15, 2012
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The current quarter's performance included a 15-cent gain tied to the retailer's sale of its consumer credit-card business to TD Bank Group.

Target, which had been looking for a buyer for nearly two years, announced the deal last month.

Removing certain items, the chain's earnings were 90 cents per share. Analysts expected 78 cents per share, according to a FactSet poll.

Revenue climbed 3 percent to $16.6 billion from $16.05 billion, but missed Wall Street's $16.91 billion forecast.

Revenue at stores open at least a year, a key retail metric, rose 2.9 percent, slower than last year's 4.3 percent increase. This figure excludes results from stores recently opened or closed.

The company said customers spent more on each visit, and cited strong sales of food, health and beauty products, and back-to-school items.