CORRECTED – UPDATE 1-Target posts higher quarterly profit

* EPS $0.92 vs Wall St $0.92 view

* Profit improves at credit card business
(Corrects sales figure in fourth paragraph)

CHICAGO, Aug 18 (BestGrowthStock) – Target Corp (TGT.N: ) posted
higher quarterly earnings, helped by sales of more profitable
items like clothing and improved profit at its credit card
business.

The discounter said profit rose to $679 million, or 92
cents a share, in the second quarter ended July 31 from $594
million, or 79 cents a share, a year earlier.

Analysts on average had forecast 92 cents a share,
according to Thomson Reuters I/B/E/S.

Earlier this month, Target reported sales of $15.13 billion
for the quarter at its retail business, up 3.8 percent from a
year earlier. Sales at stores open at least a year rose 1.7
percent.

On Tuesday, larger rival Wal-Mart Stores Inc (WMT.N: ) posted
1.8 percent drop in same-store sales at its U.S. discount
stores. [ID:nN17234410]
(Reporting by Brad Dorfman; Editing by Lisa Von Ahn and Gerald
E. McCormick)

CORRECTED – UPDATE 1-Target posts higher quarterly profit