Target looks to top $100 billion sales mark boosted by Canada stores revenue
NEW YORK -- Target Corp. said its annual sales may top $100 billion within the next seven years, with revenue boosted by its first expansion outside the United States, Bloomberg reported.
The chain also may double earnings per share over that period, CFO Douglas Scovanner said Thursday on a conference call after fourth-quarter results. Net income in the period ended Jan. 29 rose 11% to $1.04 billion.
Target plans to open stores in Canada as of 2013. The expansion, coupled with Target’s new rewards program and the introduction of more fresh food, may help the chain overcome a “persistently weak” U.S. discount market, Scovanner said.