Same-store sales rose 4.9% during the period, which ended Aug.4, while total sale jumped 9.5%, to $14.6 billion. Net earningscame in at $686 million, or 80 cents per share, compared to 70cents per share during the same year-ago period.
Executives are still forecasting earnings per share for the yearto come in at $3.60. However, they plan to manage the inventory ofseasonal products and apparel more tightly this fall to combat anyshortfalls.
Target opened 42 stores during the quarter, 32 of them generalmerchandise and 10 of them in the grocery-selling SuperTargetformat, bringing the chain's total to 1,537 units. During thequarter, the company also opened its first three-level store, inGlendale, CA.
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