Target reports profit that beats estimates

New York

DRIVEN by stronger sales of its signature items, including children's clothing, Target reported a profit in the first quarter of the year that beat expectations.

The company on Wednesday reported earnings per share of US$1.10, compared with 92 US cents in the year-ago quarter. Revenue rose to US$17.1 billion, compared with US$16.7 billion in the US in the first fiscal quarter of 2014. Analysts polled by Thomson Reuters had expected US$1.03 a share on revenue of US$17.08 billion.