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To: Jim Spitz who wrote (37515)	1/10/2002 10:22:03 AM
From: Jim Spitz	Read Replies (1) of 37746

Rosy earnings report from Target Corp. From News Services Published Jan 10 2002 Target Corp. of Minneapolis raised its quarterly dividend to 6 cents a share from 5.5 cents after reporting today that it expects earnings for its fiscal fourth quarter ending this month to be higher than analysts' estimates. In a press release today, the retailer said the dividend is payable March 10 to shareholders of record Feb. 20. The company last declared a dividend of 5.5 cents Nov. 15. Target said December same-store sales rose 0.6 percent, better than analysts expected, and it now expects fourth-quarter earnings to be moderately higher than analysts' consensus estimate of 65 cents a share. Target is the nation's the third-largest U.S. discount retailer. Tuesday, Target said it would eliminate 200 jobs at its Marshall Field's department stores to reduce costs and use more part-time workers. Sales at Target's Marshall Field's and Mervyn's units fell 10 percent and 1.3 percent, respectively, for the five weeks ended Saturday. © Copyright 2002 Star Tribune. All rights reserved.

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