Target raised its annual profit forecast as the second-largest U.S. discount retailer increases sales by adding groceries and enticing more spending from customers with a discount card.
Net profit this year will rise to as much as $4.40 a share, the Minneapolis-based chain said Wednesday. That’s up from a previous projection of a maximum of $4.30 a share in May.
The retailer plans to boost sales growth by opening stores in Canada next year, its first expansion outside the United States.
News Tribune news services
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