Target's 3Q profits up 3.7 percent (AP)

NEW YORK ? Target Corp. is reporting a 3.7 percent increase in third-quarter profits, helped by solid spending and improvement in its credit card business.

The discounter says Wednesday that it earned $555 million, or 82 cents per share, in the three-month period ended Oct. 29. That compares with $535 million, or 74 cents per share, in the year-ago period.

Revenue rose 5.4 percent to $16.05 billion.

Analysts had expected 74 cents per share on revenue of $16.31 billion, according to FactSet.

The discounter is based in Minneapolis.

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/ap/20111116/ap_on_bi_ge/us_earns_target

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