Target reports flat 2Q profits, but sales up

Published August 15, 2012 12:48pm ET



NEW YORK (AP) — Target’s net income for the second quarter was unchanged as it paves the way for an upcoming move into Canada, but it saw solid spending by customers and the cheap chic discounter raised its outlook for the year.

Like most retailers, Target’s challenge has been luring shoppers into stores during an uncertain economic climate that has them scrutinizing every purchase. While there have been some improvements in the economy, the job and housing market remain shaky. Unemployment is hovering at an uncomfortable 8.3 percent.

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