Feb 28 Target Corp reported a
steeper-than-expected decline in quarterly same-store sales on
Tuesday, highlighting the retailer's struggles in the holiday
Net income slumped to $817 million, or $1.45 per share in
the fourth quarter ended Jan. 28, from $1.43 billion, or $2.32
per share, a year earlier.
Sales at stores open for at least a year fell 1.5 percent,
missing the average analyst estimate of a decline of 1.3
percent, according to research firm Consensus Metrix.
Net sales fell 4.3 percent to $20.69 billion, Target's sixth
straight quarterly decline.
(Reporting by Richa Naidu in Bengaluru; Editing by Savio