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(Image from article: "Target Earnings Rise 18%; Saks Reports Profit")

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Target's 4Q profit declines 5.2 percent

Target Corp. is reporting a 5.2 percent drop in earnings for the fourth quarter, as the retailer pushed big discounts to get tight-fisted shoppers to buy during the holiday season.

 

Retail sales weather Hurricane Irene, stock market storm

Retail sales at major chain stores beat analysts' expectations, rising 4.4% year-over-year in August, according to Thomson Reuters' tally of 23 retailers. Discounters, including Target Corp. and Costco Wholesale Corp., did well as East Coasters stocked up before Hurricane Irene.

 

Target Earnings Rise 18%; Saks Reports Profit

Target Earnings Rise 18%; Saks Reports Profit

Target's earnings rose 18%, snapping a streak of eight quarterly declines, as the discount retailer saw improvement in its retail and credit-card operations. Saks swung to a $1.9 million profit.

 

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