Target profit climbs 18 pct on lower costs

CHICAGO - November 17, 2009

Target Corp., which is based in Minneapolis, has been fighting with its larger competitor as recession-battered customers switch to cheaper stores and swap splurging for saving. As the holidays near, the two have battled online with deep discounts on books and DVDs.

For the quarter ending Oct. 31, costs that rose more slowly than revenue helped profit jump to $436 million, or 58 cents per share. Sales grew 1.4 percent to $14.8 billion. Overall revenue was $15.27 billion. That's up 1 percent.

Analysts forecast a profit of 50 cents per share on revenue of $15.25 billion.


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