Target Profits Jump 52% as Turnaround Starts to Pay Off

Despite an overall lackluster retail environment, Target Corp. reported a 52 percent increase in first-quarter profit, helped by operating improvements and an easy comparison to last year’s difficulties. The Minneapolis-based retailer beat analysts’ and its own expectations with a profit of $635 million in the quarter ended May 2, up from $418 million a year ago when it was coping with losses in Canadian stores and the aftermath of the data breach that hurt its reputation with shoppers.