Target Q3 profit up 3.7%, beats expectations

Minneapolis -- Target Corp.’s profit increased a better-than-expected 3.7% in the third quarter to $555 million, up from $535 a year earlier. The retailer’s performance was helped by solid spending and improvement in its credit card business. Revenue rose 5.4% to $16.05 billion. Same-store sales were up 4.3% in the quarter. “We're very pleased with our third-quarter financial results," said Gregg Steinhafel, Target's chairman, president and CEO in a statement. "We're confident that we have the right strategy and team in place to drive continued strong performance this holiday season and well into the future." Target said that its