Target's net profit grows 15 percent in third-quarter


The pending sale of Target's credit card business helped boost the company's third-quarter net income. For the three month period that ended Oct. 27, the Associated Press reports Target earned $637 million. That's up 15 percent from $555 million in the same quarter last year.

"We’re pleased with Target’s third-quarter financial performance, which reflects superb execution across each of our business segments. We are well-positioned to deliver strong fourth-quarter performance," CEO Gregg Steinhafel said in a news release.

Target reached a deal to sell its consumer credit card portfolio to Toronto-based TD Bank Group for $6 billion in October.

The Minneapolis-based cheap-chic chain is upbeat about the fourth quarter as it heads into the holiday shopping season. For the first time, Target will price match select online competitors through Dec. 16. The big-box retailer is also teaming up with luxury department store Neiman Marcus for a limited edition holiday collection.

Earlier this week, Target has confirmed its stores will open at 9 p.m. on Thanksgiving — three hours earlier than a year ago — to give “guests a more convenient way to create an after-dinner shopping event that the entire family can enjoy.”

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Capella Education's net profit plummets 49 percent in third-quarter

Capella Education, the parent company of the for-profit Capella University, says its third-quarter net income was $5.1 million, down nearly 50 percent compared to the $9.9 million it earned in the July-September quarter last year, the Associated Press reports. Even as total enrollment, revenue and net income fell, new student enrollment at the Minneapolis-based provider of online post-secondary education rose 10.5 percent compared to last year -- the first increase in nearly two years, Reuters reports.