Target 4th-Quarter Earnings Fall 8.2%
Published: Wednesday, February 27, 2008
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Through its Go International program, Target has, for a time, sold looks from Behnaz Sarafpour, Proenza Schouler and Erin Fetherston.Given sinking consumer confidence and the looming possibility of a recession, any new names entering the store might well get a trial by fire.
For the full year, Target's earnings rose 2.2 percent to $2.85 billion, or $3.33 a diluted share, on a 6.5 percent increase in revenues to $63.37 billion.
Target expects its comparable-stores sales to rise by 2 percent to 3 percent in 2008, with hopes for strength in the second half offsetting what seems to be a tough first half. Target said Wall Street's estimates, calling for earnings per share of 73 cents in the first quarter and $3.56 for the full year, were reasonable.
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