Target Posts Better-Than-Expected Results Driven by U.S. Business

Shares of Target are climbing in Wednesday trading after the retailer reported third-quarter earnings that beat expectations, driven by its performance in the U.S. Target reported earnings that fell $0.02 from a year ago to $0.54 a share on revenue that rose to about $17.7 billion. Analysts expected earnings of $0.47 a share on revenue of about $17.5 billion, according to Thomson Reuters. Target has been attempting to drive sales through initiatives like free shipping on online orders through the holidays after it was hit with a data breach last year. Target chairman and CEO Brian Cornell said, 'We're encouraged by the improving trend we've seen in our U.S. business throughout the year, and our fourth quarter plans are designed to sustain this momentum.'