card business was for the full year. Also includes the rise for higher quarterly profit on Tuesday, beating estimates on business.
(WMT.
N: , nbsp , ) said profit increased to $1.119 billion, or $1.29 per share, in the fourth quarter that ended on Feb.
3, from $939 million, or $1.06 per share, in the same period a year earlier.
Analysts, on average, had been expecting it to earn $1.
27 per share, according to Reuters Estimates.
Target's shares have risen sharply since July, as its sales at stores open at least a year outpaced those at Wal-Mart, home decor.
percent rise in fourth-quarter profit, but said its apparel and home sales continue to lag.
billion, while sales at stores open at least a year -- a key retail measure known as same-store sales -- rose 4.8 percent.
quarters, partly because it caters to wealthier customers and chic" clothing and home decor.
Wal-Mart has tried to mimic the strategy, stocking its shelves with more upscale and trendy merchandise, and downplaying its low price roots. But in the face of lackluster U.S.
sales, it reversed course and emphasized low prices for the holiday season.
million to earnings before interest and income taxes in 2006, up 53.3 percent from 2005.
Credit card operations in the fourth quarter contributed $187 million, an increase of $54 million, of 40.7 percent, from a year ago. The retailer issues a Target Visa card, which has been a profit driver in recent years.
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